Recap As expected BOJ did its part and ninja got pushed down to almost Y-2. On pure price action basis, the FBO reaction to Y+1 gave us Y-0 and then Y-1. The violent reactions below Y-1 was obviously stop run. Closed the week at Y-1 and below midpoint.
Outlook It looks like the start of a weekly level pullback. As long as ninja is trading around the prescribed bottom of the range at 98 this should be treated as a consolidation.
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Lawrence's Comment
Recap
Bear flag upside breakout is a very powerful formation. It is rare thus most people reacted the wrong way in handling the situation. That's exactly what we've got last ...
Lawrence's Comment
Recap
Comparing to S&P, Dow dropped more significantly and displayed weaker price action all week. Of course, we now know JPM was the reason.
Outlook
Similar to S&P, Dow ...
USDJPY Jul 15 to Jul 19 Outlook
Lawrence’s Comment
As expected BOJ did its part and ninja got pushed down to almost Y-2. On pure price action basis, the FBO reaction to Y+1 gave us Y-0 and then Y-1. The violent reactions below Y-1 was obviously stop run. Closed the week at Y-1 and below midpoint.
Outlook
It looks like the start of a weekly level pullback. As long as ninja is trading around the prescribed bottom of the range at 98 this should be treated as a consolidation.
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