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USDJPY Aug 11 to Aug 15 Outlook
Lawrence’s Comment
Consolidation expectation was correct with ninja dropped back down near Y-1 at the support area mentioned last week. Bounce from support failed to clear Y-0 led to another drop to below Y-1. Closed the week above Y-1 and below midpoint.
Outlook
B-0 / Y-0 resistance can lead to potential down channel over coming few weeks. Better bottom on 4 hours will give us a test of Y-0.
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