USDJPY weekly 2x target tagged – what’s next?

By Lawrence

USDJPY posted a clean breakout to the upside and tagged the weekly 2x absolute expansion target.

It resulted in a 1-2-3 sell visible on 4 hours. but that stopped at 50% of current week range.

USDJPY has now positioned itself into potentially making a very explosive move by next week.

Definitely on my watch list now.


  • miniflowtrader November 12, 2010 at 12:14 pm

    Lawrence, what would be an ideal entry location for you on this if it presents itself?

  • Lawrence Chan November 12, 2010 at 4:42 pm

    Left early since ES gap filled, did not see your message until now =P

    I do not mind chasing breakouts (pretty clear from my postings) so a breakout of this week’s high with mini test of that high in hourly is picture perfect run to around 86.

    I will have a more exact target this weekend.