USDJPY May 26 to May 30 Outlook

By News Robot

Lawrence’s Comment

Recap
Finally a flush lower was allowed. Y-2 downside target tagged. Then BOJ + Japanese government came out jawboning ninja into reversal. Closed the week above Y-0 and near week high.

Outlook
A forced reversal is in place. It does not matter what caused the reversal. What matters is that it reversed from the right price level and formed FBO against the long term support.

As long as B-0 / Y-1 acting as support, B+2 and more upside is likely.

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