Trading Edges That Last
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Lawrence's Comment Recap Tight range breakout to the upside. Tagged breakout target of Y+3. Closed the week near Y+3 and week high. Outlook Consolidation around B+1 likely until NFP Friday.READ MOREFor 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 scheduleREAD MOREFor 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 scheduleREAD MOREIntraday Cycle Projection (USDJPY) 2014-01-08Intraday Cycle Projection (USDJPY) 2018-11-133DP Odds Table (USDJPY) 2012-08-163DP Odds Table (USDJPY) 2015-04-10Precog Vision – Forex 2017-9-18Nasdaq 100 May 30 to Jun 03 OutlookPrecog Vision – Forex 2015-7-13Intraday Cycle Projection (USDJPY) 2013-06-07Precog Vision – Forex 2018-4-123DP Odds Table (USDJPY) 2017-02-27
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USDJPY Sep 16 to Sep 20 Outlook
Lawrence’s Comment
As expected, ninja retested Y-1. Yet, it failed to hold above Y+1 as support, leading to retest of Y-0 / previous week close. Consolidated since. Closed the week below midpoint and near Y-0.
Outlook
The bullish setup from the week before last was wasted on this consolidation. Cannot complain as war was looming and that directly affect USD strength across multiple majors.
Longer term on swing basis still bullish but a drop to B-2 is possible once B-1 is breached. Need ninja to pop back above B-0 to get a confirmed continuation to the upside.
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