Trading Edges That Last
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USDJPY Apr 14 to Apr 18 Outlook
Lawrence’s Comment
Ninja moved lower as expected. What I did not expect, however, was the all out melt down. Got Y-3 before ninja can even bounce. Closed the week below Y-2 and midpoint.
Outlook
Partially event driven, but this pullback is mostly expected due to the daily level overbought condition.
Ninja needs to absorb the drop hence consolidation likely with reduced range.
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