Recap Clean swing from Y-1 as support, breaking the resistance at Y-0 and gave us the breakout we are looking for. Y+3 target tagged. Closed the week at week high and above Y+3. The best trade last week.
Outlook As mentioned many times before, 78 is an important long term support. Once again it has defended the long term reversal started from last year.
From here onward, as long as Y+1 / B-0 stays as support, looking for long only.
Lawrence's Comment
Recap
Tight range. No news. No move. Closed the week at midpoint and Y-0.
Outlook
Breakout mode. Original trend entering the consolidation was up. So, upside breakout has a slight ...
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Lawrence's Comment
Recap
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. ...
Lawrence's Comment
Recap
Intervention at its finest - by rumors. No one even dare to touch euro in 2nd half of the week allowing it to drift higher all the ...
Lawrence's Comment
Recap
Reacted to 1.18 as expected. Pullback to equal distance from Monday high and stopped dropping. Renew rally sent the pair up to 1.185 zone on 2nd try. 1.18 turned ...
Lawrence's Comment
Recap
Y-1 acted as support so no selloff. Once traded above Y+1, clean sail to pre-crisis level at Y+5 (notice how exact that was). Closed the week by doubling ...
USDJPY Aug 20 to Aug 24 Outlook
Lawrence’s Comment
Clean swing from Y-1 as support, breaking the resistance at Y-0 and gave us the breakout we are looking for. Y+3 target tagged. Closed the week at week high and above Y+3. The best trade last week.
Outlook
As mentioned many times before, 78 is an important long term support. Once again it has defended the long term reversal started from last year.
From here onward, as long as Y+1 / B-0 stays as support, looking for long only.
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