Trading Edges That Last
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USDJPY Nov 03 to Nov 07 Outlook
Lawrence’s Comment
How does a central bank influence the markets? Well, choose a side and punish the other one like what happened last week. Ninja held Y-0 all the way with upside breakout followed. Of course, it turned out that someone knew about the BOJ plan and it showed in the chart. BOJ shock and awe took ninja up to Y+5. Closed the week above Y+4 and near week high.
Outlook
It will take a few days to tell if the market has absorbed the impact yet. For now, above B+1 likely due to the momentum. Even a consolidation week is in play it will be wide range around B+1.
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