Recap Intervention as expected. Forced ninja back up to Y+1 before it stalled. Closed the week near week high.
Outlook Consolidation after 2 weeks of wild swings is likely. As BOJ and Japanese government showed their hands, the directional bias is up and that B-0 likely to become strong support.
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Lawrence's Comment
Recap
A minor data problem affected the chart. Week high was 1.05 area which was a challenge of the resistance zone and failed. Closed the week below Y-0 ...
Lawrence's Comment
Recap
Y-0 acted as resistance, down trend continued. Sold off to my downside target by the end of the week. Closed the week near week low and below Y-2.
Outlook
Not time ...
USDJPY Jun 11 to Jun 15 Outlook
Lawrence’s Comment
Intervention as expected. Forced ninja back up to Y+1 before it stalled. Closed the week near week high.
Outlook
Consolidation after 2 weeks of wild swings is likely. As BOJ and Japanese government showed their hands, the directional bias is up and that B-0 likely to become strong support.
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