Recap The intervention I’ve been talking about happened. It illustrates why we cannot trade the short side of this pair when it was drifting downward as we cannot tell exactly when BOJ will strike.
Outlook This artificial pop of dollar yen may have legs comparing the the previous interventions. Prior actions by BOJ is not accompanied by QE initiatives. This one does.
If we can get a higher low formed from 76.5 and above over the coming 2 weeks, we get the long term bottom I’ve been looking for.
Lawrence's Comment
Recap
Consolidation actions between Y-0 and Y+1. Ledge breakout upside gave us 100% of tight range. Closed the week above Y+1 and midpoint.
Outlook
Rising wedge with support at B-0. ...
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
NQ spiked way higher on Tuesday open after holiday Monday. Yet it dropped all the way back down to close the gap below. So as oppose to the normal ...
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
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
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 Nov 07 to Nov 11 Outlook
Lawrence’s Comment
The intervention I’ve been talking about happened. It illustrates why we cannot trade the short side of this pair when it was drifting downward as we cannot tell exactly when BOJ will strike.
Outlook
This artificial pop of dollar yen may have legs comparing the the previous interventions. Prior actions by BOJ is not accompanied by QE initiatives. This one does.
If we can get a higher low formed from 76.5 and above over the coming 2 weeks, we get the long term bottom I’ve been looking for.
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