Trading Edges That Last
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Lawrence's Comment Recap Aussie held the support zone mentioned last week. That helped Aussie to push through its resistance and reached Y+2 normal continuation target. Closed the week above Y+1 and midpoint. Outlook Strength ...READ MORELawrence's Comment Recap Cable never even tested Y-0 and held up around Y+1. When BOE talked, all out breakout happened. Normal Y+3 target tagged but it could not stop the run. Closed ...READ MOREPrecog Vision – Forex 2021-4-2Precog Vision – Forex 2017-10-31AUDUSD Jun 16 to Jun 20 Outlook3DP Odds Table (USDJPY) 2016-11-083DP Odds Table (USDJPY) 2011-06-033DP Odds Table (USDJPY) 2022-10-31GBPUSD Feb 17 to Feb 21 Outlook3DP Odds Table (USDJPY) 2014-02-13Dow 30 Feb 19 to Feb 23 Outlook3DP Odds Table (USDJPY) 2022-07-25
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USDJPY Jun 10 to Jun 14 Outlook
Lawrence’s Comment
BOJ and Japanese government did not know what to do in the beginning of the week after its big corporations told them it is not a good idea to trash yen any further. That alone was enough to crash ninja back down to pre-breakout level down at Y-5. Later in the week Japanese government announced the use of their government pension funds to support their stock market which then helped induce bottom picking. Closed the week below midpoint and Y-3.
Outlook
Ninja is in a mess. Their government does not know what to do at this point and the yen related markets are all shocked. It will be erratic trading at best this week until traders sort out the consequence from all these intervention initiatives.
Consolidation around B-0 at 50% previous week range is the normal expectation after a shock as long as there is no new shocks coming from their government again.
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