Trading Edges That Last
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USDJPY Aug 10 to Aug 14 Outlook
Lawrence’s Comment
Bullish expectation is correct with Y-0 support pushing higher. 125 round number attracted selling and forced ninja back down. Closed the week below Y+1 and midpoint.
Outlook
It is now clear than BOJ is determined to fight any attempt to push ninja above 125. Short term this means a cap above and wild swings back down below is possible but not necessary. Y-0 / B-1 strong support until proven otherwise.
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