Recap Tight range sideway market. Made new low by end of the week. Closed the week above Y-1.
Outlook As expected we got more weaknesses in ninja but there was no real breakdown either.
Normally, a flush to B-2 is expected. But this time, we have the all important 78 level in play. So a strong bounce off Y-1 / B-1 area points to a quick squeeze back up to B+2.
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Lawrence's Comment
Recap
Spike top led to test of Y-1 and wait for Brexit. Spike low against Y-1 led to a rush back up to Y-0 and then Y+1. Closed the week ...
Lawrence's Comment
Recap
Did not comment on euro last week due to technical issues with the post not added proper. Y+1 acted as resistance leading to a quick break below ...
USDJPY Sep 03 to Sep 07 Outlook
Lawrence’s Comment
Tight range sideway market. Made new low by end of the week. Closed the week above Y-1.
Outlook
As expected we got more weaknesses in ninja but there was no real breakdown either.
Normally, a flush to B-2 is expected. But this time, we have the all important 78 level in play. So a strong bounce off Y-1 / B-1 area points to a quick squeeze back up to B+2.
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