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I have introduced the concept of Point of No Return some time ago here. It is not a complex concept but many traders find it difficult to apply the concept ...READ MOREContent Review Euro Bounced from Support S&P Normal Pullback In Progress Gold in Neutral State ...READ MORELawrence's Comment Recap Y-0 acted as support on first test but failed to hold up loonie afterwards, that opened the door to tag Y-1 and Y-2. Closed the week near Y-2. Outlook The ...READ MOREHow to Compute the Point of No ReturnIntraday Cycle Projection (USDJPY) 2018-10-033DP Odds Table (USDJPY) 2021-01-11Intraday Cycle Projection (USDJPY) 2016-04-14MBO Issue 59 (Nov 2016) The People WhoUSDCAD Sep 19 to Sep 23 Outlook3DP Odds Table (USDJPY) 2013-09-26GBPUSD Nov 21 to Nov 25 OutlookWeekly Cycle Projection (USDJPY) 2018-05-28Intraday Cycle Projection (USDJPY) 2021-11-11
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USDJPY Feb 08 to Feb 12 Outlook
Lawrence’s Comment
Currency war at its finest – ninja found resistance at previous week close and dropped itself down to Y-0. In turn words exchange at the central bank level broken Y-0 support and sent ninja back down below Y-1. Closed the week below Y-1 and near week low.
Outlook
Another week of 500 pips week range registered. Daily level attempt to push higher failed with ninja falling back to longer term support again. If ninja can hold Y-2 and snap back above B-1 quickly, a run back up to B-0 will be in play.
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