USDJPY May 09 to May 13 Outlook

By News Robot

Lawrence’s Comment

As expected more weaknesses this week and the spike low almost tagged Y-3. Closed the week at exactly the midpoint.

Being able to bounce before Y-3 was tagged means higher timeframes in control. In this case, we have the multiple year low made not too long ago in sight. Should a buy setup formed here and materialized, we probably have a multiple year low established and this pair should move higher.
The big question is that can the multiple year spike low act as support at all. This week will be critical.


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