USDJPY Oct 29 to Nov 02 Outlook

By News Robot

Lawrence’s Comment

Recap
Took off right from the start of the week and consolidated above Y+1 pointing to a push towards Y+3. At 100% absolute range expansion, heavy selling kicked in and dropped this back down to Y+1. Closed near Y+1 and below midpoint.

Outlook
The first leg up is now over.Consolidation for a week or 2 is needed to absorb the fast up move. As long as it stays above Y-0 / B-1 area, looking for more upside over coming weeks.

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