USDJPY Nov 25 to Nov 29 Outlook

By News Robot

Lawrence’s Comment

Recap
Easiest play last week – just load it up at support mentioned last week and ninja smooth sailed to target Y+2. Closed the week at Y+2 and near week high.

Outlook
Picture perfect continuation week came and now gone. A bit more tricky from here for ninja to go higher because Japanese government sort of promised the range of 98 to 102 being the preferred zone. If ninja tagging 102 quickly early this week I suspect BOJ will slow it down.

Chart pattern only as long as B-0 acting as support, more upside coming.

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Comments
  • smilingsynic November 24, 2013 at 5:31 pm

    Definitely hitting longer-term resistance now.

    Did you catch that Monday’s close was lower than previous week’s high and yet market still went back up? Odds were against that, as per Monday Forex article.

    I still come here every day. Now that I am now also Director of International Programs (basically now doing 1.5 jobs instead of just 1) I cannot trade AND follow the site during the trading day. Trading comes first; posting can always come later, when I get the time.

    • Lawrence Chan November 24, 2013 at 11:52 pm

      Yep. The odds is against it but I have something that counter the bias based on cross pair bias that I am going to post soon (some many things I like to do at the same time =P ). Once I posted these very odd correlations you will be satisfied.

      I thought they let you have more free time to write your book and do your own stuff?

      Trading definitely come first, no point distracting yourself from making money.

      I like to have more time to trade but my priority at this point is taking care of my SO. I have odd hours left to write though. =)

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