Trading Edges That Last
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Lawrence's Comment Recap Resistance zone mentioned last week capped the upside. Downside target tagged late in the week and bounced. Closed the week below Y-1 and midpoint. Outlook Confirmed weaknesses means a strong breakout ...READ MOREFor 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 scheduleREAD MOREPrecog Vision – Forex 2018-1-29USDJPY Jul 10 to Jul 14 OutlookUSDJPY Oct 12 to Oct 16 OutlookWeekly Cycle Projection (USDJPY) 2017-01-02Precog Vision – Forex 2019-10-7Intraday Cycle Projection (USDJPY) 2017-05-17USDCAD Jun 02 to Jun 06 OutlookPrecog Vision – Forex 2020-5-183DP Odds Table (USDJPY) 2017-08-09USDCAD Jul 20 to Jul 24 Outlook
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USDJPY Jul 18 to Jul 22 Outlook
Lawrence’s Comment
We got our downside move and we got way more than we asked for. Not just y-2 was tagged, Yen slided all the way to below Y-3 and triggered extended target of Y-5. Once Y-5 was tagged, we got a bounce back to Y-3 as expected. All in all, violent reactions within the context prescribed by STOPD.
Outlook
B-0 is now strong resistance. Only when Yen trade above B-0 before considering any long position. The reason is that such strong moves seldom ends after a single leg. B-2 is in play.
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