Trading Edges That Last
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USDJPY Aug 20 to Aug 24 Outlook
Lawrence’s Comment
Clean swing from Y-1 as support, breaking the resistance at Y-0 and gave us the breakout we are looking for. Y+3 target tagged. Closed the week at week high and above Y+3. The best trade last week.
Outlook
As mentioned many times before, 78 is an important long term support. Once again it has defended the long term reversal started from last year.
From here onward, as long as Y+1 / B-0 stays as support, looking for long only.
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