Recap No FBO so trend continue until 100% absolute range expansion tagged. Closed the week above Y+2 and midpoint.
Outlook A clear sign of stop run happen around 108 which was the recommended stop from many firms. This implies short term swing top is in the making with a pullback to Y+1 and below likely.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
The short squeeze scenario played out. The range expanded without any significant retracement. That is a bit surprising.
Outlook
Still no signs of accumulation and breadth is diverging from the ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
USDJPY Sep 22 to Sep 26 Outlook
Lawrence’s Comment
No FBO so trend continue until 100% absolute range expansion tagged. Closed the week above Y+2 and midpoint.
Outlook
A clear sign of stop run happen around 108 which was the recommended stop from many firms. This implies short term swing top is in the making with a pullback to Y+1 and below likely.
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