Trading Edges That Last
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USDJPY May 11 to May 15 Outlook
Lawrence’s Comment
Ninja tried to hold previous week close early in the week. It even spiked higher but failed to stay above Y+1. FBO led to a drop to Y-0 and below. Found support and bounced. Closed the week above Y-0 and near midpoint.
Outlook
FBO against Y+1 points to potential drop to Y-1 all the way. For the weekly to bottom out, B-1 support is now important. If B-1 acts as support, Ninja will get another chance to retest B+1.
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