Trading Edges That Last
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As Featured In
USDJPY Jul 04 to Jul 08 Outlook
Lawrence’s Comment
As expected yen failed to escape out of the range established in the past few weeks. Tried to take out Y+2 and failed. Fell ack down to Y-0 and tried once more to the upside and rejected. Closed the week close to and above Y+1.
Outlook
As Y+2 was rejected decisively, the pair is likely to be forced to go back down to retest B-1 and Y-1 zone. No real direction is established from the price action of last week so congestion is expected to continue into this week.
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