Trading Edges That Last
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USDJPY Aug 17 to Aug 21 Outlook
Lawrence’s Comment
Previous week close acted as support and in turn making Y-0 into support. Pushed to Y+1 target and collapsed back down since. Y-1 strong support as mentioned last week has put a stop to the drop. Closed the week below Y-0 and midpoint.
Outlook
Outside week yet close near both midpoints. Potential 3 pushes up on 4 hours points to a pullback down to B-2 provided that Y+1 acting as resistance.
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