Trading Edges That Last
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USDJPY Apr 25 to Apr 29 Outlook
Lawrence’s Comment
Instead of holding above Y-1, it failed to act as support right from the beginning of the week. That set the stage for a test of Y-1 mid-week and then dropping down to Y-2. Closed the week at Y-2.
Outlook
The weaknesses is moving in line with other USD pairs where USD is being trashed. Weaknesses will continue unless B+1 is taken out. Congestion between B-1 and B-0 is more likely.
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