Trading Edges That Last
- You May Also LikeFor 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 scheduleREAD MOREFor 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 scheduleREAD MORE
Lawrence's Comment Recap Opened the week below Y-1 and struggled around Y-1 since. By end of the week, cable can no longer hold the price level and flushed down to almost Y-2. ...READ MORELawrence's Comment Recap Option expiration week played out perfectly to mess with everyone who forgets about it since last month. Initial attempt to blast higher from Y+1 failed leading to first flush ...READ MOREUSDJPY May 29 to Jun 02 OutlookPrecog Vision – Forex 2022-8-12Precog Vision – Forex 2015-8-13Hot n Cold (USDJPY) 2016-4-22Weekly Cycle Projection (USDJPY) 2017-02-06GBPUSD Mar 04 to Mar 08 OutlookHot n Cold (USDJPY) 2012-4-17S&P 500 Apr 20 to Apr 24 OutlookDow 30 Apr 10 to Apr 14 OutlookDow 30 Jun 17 to Jun 21 Outlook
As Featured In
USDJPY Mar 19 to Mar 23 Outlook
Lawrence’s Comment
Mentioned last week looking for a top to form after upside target Y+2 is tagged. Got the rally and stopped when 100% absolute range expansion is reached. Closed the week near midpoint and above Y+1.
Outlook
Strong reaction to the zone above Y+2 confirms resistance is right above Y+2. A top forming from Y+2 upto B+1 will drop the pair back down to B-1 area.
As mentioned last week, the short term target of 83 area is tagged so there is not a lot of fuel to go much higher for now. So coming few weeks will more likely be consolidation time.
Long term long (weekly and higher timeframes) from the bottom area should watch the 80-81 area closely in case dollar yen weaken and drop back down to that area which should not be breached if this rally is going to continue.
Share