Trading Edges That Last
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Lawrence's Comment Recap More downside as expected but failed to tag Y-2. Just consolidated around Y-1. Closed the week near Y-1 and midpoint. Outlook Indecision to close near Y-1 means a chance to push ...READ MORELawrence's Comment Recap Everything changed over the weekend in Europe. Cable found support at Y-1 and forced a test of Y-0. That in turn provided fuel for cable to clear Y-0 gunning ...READ MORELawrence's Comment Recap Consolidation above former weekly resistance level. 100% absolute range bounded the moves. Closed the week above Y-0 and midpoint. Outlook Weekly level bull flag is now in place. A ...READ MORE3DP Odds Table (USDJPY) 2017-08-04Nasdaq 100 Jul 04 to Jul 08 OutlookIntraday Cycle Projection (USDJPY) 2017-11-02Hot n Cold (USDJPY) 2011-10-18Precog Vision – Forex 2019-7-23USDJPY Apr 01 to Apr 05 OutlookGBPUSD Apr 20 to Apr 24 Outlook3DP Odds Table (USDJPY) 2018-08-13Intraday Cycle Projection (USDJPY) 2014-08-07USDCAD Sep 07 to Sep 11 Outlook
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USDJPY Jan 05 to Jan 09 Outlook
Lawrence’s Comment
Ninja failed to clear Y+1 gave us a drop to Y-1. Ninja reacted to Y-1 but it failed to stop the drop right there. A bear flag on 4 hour was formed. Drifted back up to retest week high. Closed the week above Y-0 and midpoint.
Outlook
Since 120-121 has been the last significant topping zone on multi-year basis, there are many people who will react to the price level here. Thus, a sell off from here breaking B-1 is normal with B-3 target below.
That, however, would not change a thing about the weekly up trend. Just volatile reaction to the level. Until we see weekly level swing trend changes, ninja will continue to charge higher after every daily pullback.
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