Recap Cleared Y-0, so gave us a go for a run above Y+1. Then before tagging Y+2, there came the news shock from G20. That trigger the 2nd setup mentioned last week. Yet when ninja moved near towards Y-1, G20 having someone came out to declare that people has misinterpreted their statement. Ninja immediately zoomed back up. Closed the week above midpoint and Y-0.
Outlook The boundaries acted well last week but if they keep doing this to nudge the currencies to whatever their moods have been for the day, it will mess up the charts badly.
Next week as long as B-0 / Y-0 holds, a run to B+1 is likely.
Looking for a long term swing top to develop here for a significant pullback.
Lawrence's Comment
Recap
Sell climax recorded in market breadth on Monday. Rally all the way back to our target Y+1 and exceeded that to almost reaching the 2nd target Y+2. Closed ...
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Lawrence's Comment
Recap
Breakout play worked out nicely with Y-3 target almost tagged. Strong reaction at Y-3 brought this back up to the crime scene. Closed the week near Y-0 and above ...
USDJPY Feb 18 to Feb 22 Outlook
Lawrence’s Comment
Cleared Y-0, so gave us a go for a run above Y+1. Then before tagging Y+2, there came the news shock from G20. That trigger the 2nd setup mentioned last week. Yet when ninja moved near towards Y-1, G20 having someone came out to declare that people has misinterpreted their statement. Ninja immediately zoomed back up. Closed the week above midpoint and Y-0.
Outlook
The boundaries acted well last week but if they keep doing this to nudge the currencies to whatever their moods have been for the day, it will mess up the charts badly.
Next week as long as B-0 / Y-0 holds, a run to B+1 is likely.
Looking for a long term swing top to develop here for a significant pullback.
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