Recap Another eventful week with interventions. Y-1 acted as support sent ninja back to Y-0. Intervention (or “more explanation”) did the job and cleared Y-0 resistance. Ninja stalled at the price level where the last flush started. Closed the week near week high and above Y-0.
Outlook BOJ and Japanese government is determined to defend ninja within the prescribed range of 96 to 102. Can they do it is a different issue. We know for sure intervention / words from BOJ anytime will happen when ninja drops below 96. So be very careful with any short setup as they can be traps.
Price pattern suggest a zoom up to B+2 as long as B-0 is acting as support this week.
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
Everything said last week happened. Downside bias used up by Monday. Higher than usual volatility sending ES all the way back to all time high. Closed the week near ...
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 Jun 24 to Jun 28 Outlook
Lawrence’s Comment
Another eventful week with interventions. Y-1 acted as support sent ninja back to Y-0. Intervention (or “more explanation”) did the job and cleared Y-0 resistance. Ninja stalled at the price level where the last flush started. Closed the week near week high and above Y-0.
Outlook
BOJ and Japanese government is determined to defend ninja within the prescribed range of 96 to 102. Can they do it is a different issue. We know for sure intervention / words from BOJ anytime will happen when ninja drops below 96. So be very careful with any short setup as they can be traps.
Price pattern suggest a zoom up to B+2 as long as B-0 is acting as support this week.
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