Recap Intervention as expected. Forced ninja back up to Y+1 before it stalled. Closed the week near week high.
Outlook Consolidation after 2 weeks of wild swings is likely. As BOJ and Japanese government showed their hands, the directional bias is up and that B-0 likely to become strong support.
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Lawrence's Comment
Recap
Was consolidating until BOC surprised the world with a rate cut. Surprise breakout target of 200% range expansion tagged by the end of the week. Closed the week above ...
USDJPY Jun 11 to Jun 15 Outlook
Lawrence’s Comment
Intervention as expected. Forced ninja back up to Y+1 before it stalled. Closed the week near week high.
Outlook
Consolidation after 2 weeks of wild swings is likely. As BOJ and Japanese government showed their hands, the directional bias is up and that B-0 likely to become strong support.
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