Recap Another eventful week with interventions. Y-1 acted as support sent ninja back to Y-0. Intervention (or “more explanation”) did the job and cleared Y-0 resistance. Ninja stalled at the price level where the last flush started. Closed the week near week high and above Y-0.
Outlook BOJ and Japanese government is determined to defend ninja within the prescribed range of 96 to 102. Can they do it is a different issue. We know for sure intervention / words from BOJ anytime will happen when ninja drops below 96. So be very careful with any short setup as they can be traps.
Price pattern suggest a zoom up to B+2 as long as B-0 is acting as support this week.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Bullish bias worked out. Y-0 support gave us a test of Y+1. Closed the week near Y+1 and week high.
Outlook
Upside breakout points to B+2 and B+3. FBO ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
As expected ninja cannot move out of the 2 extremes defined from prior weeks. Dipped below Y-1 and bounded back up to above Y-0. Closed the week above midpoint ...
USDJPY Jun 24 to Jun 28 Outlook
Lawrence’s Comment
Another eventful week with interventions. Y-1 acted as support sent ninja back to Y-0. Intervention (or “more explanation”) did the job and cleared Y-0 resistance. Ninja stalled at the price level where the last flush started. Closed the week near week high and above Y-0.
Outlook
BOJ and Japanese government is determined to defend ninja within the prescribed range of 96 to 102. Can they do it is a different issue. We know for sure intervention / words from BOJ anytime will happen when ninja drops below 96. So be very careful with any short setup as they can be traps.
Price pattern suggest a zoom up to B+2 as long as B-0 is acting as support this week.
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