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.
Lawrence's Comment
Recap
Hands off recommendation was spot on. Consolidation in tight range between Y-0 and Y-1. Closed the week below Y-0 and near midpoint.
Outlook
Inside week tight range and close ...
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Lawrence's Comment
Recap
First test of year high led to a pullback to Y-0 but no break of support. 2nd try did the trick and sent ninja to above Y+2. That in ...
Lawrence's Comment
Recap
FBO against Y-1 early in the week sent cable back up to 100% absolute range expansion. Stalled from there since. Closed the week above Y-0 and midpoint.
Outlook
Signs of a ...
USDJPY Oct 29 to Nov 02 Outlook
Lawrence’s Comment
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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