Trading Edges That Last
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Lawrence's Comment Recap Pullback as expected. Pullback is very mild and Y-0 is defended. Closed the week above Y-0 and near midpoint. Outlook Clearing B-1 will lead to a quick flush down ...READ MOREIntraday Cycle Projection (USDJPY) 2021-04-07Precog Vision – Forex 2015-9-28Intraday Cycle Projection (USDJPY) 2016-01-06GBPUSD Dec 28 to Jan 01 OutlookPrecog Vision – Forex 2012-3-7Dow 30 Sep 24 to Sep 28 OutlookWeekly Cycle Projection (USDJPY) 2023-03-13Nasdaq 100 Jun 11 to Jun 15 Outlook3DP Odds Table (USDJPY) 2012-05-16Hot n Cold (USDJPY) 2011-11-18
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USDJPY Jun 06 to Jun 10 Outlook
Lawrence’s Comment
Y-1 area acted as support as expected, sending the pair above Y-0. But it failed to stay above Y-0 and dropped back down to Y-1. That started the continuation selloff sending the pair down to Y-2.
Outlook
USD tried to rally against the majors and failed. JPY, GBP, EUR are gaining strength against USD. So, some kind of retest of the spike low before the G8 intervention is in play. Since they did it once back then there is no guarantee that they will not do it again.
Prefer to stay on the sideline for this pair, or, wait for an upside breakout of B-0 to break the down trend.
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