Recap 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.
Lawrence's Comment
Recap
Looking for weaknesses last week and we got that right off the start. Interesting that Y-1 was defended and bounced back up to close near Y-0 and ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
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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