Trading Edges That Last
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USDJPY Jun 20 to Jun 24 Outlook
Lawrence’s Comment
Rallied to target zone as expected. Pull back to Y+1 produced a bounce but failed to hold above Y+1 afterwards and sold off to Y-0 to close the week.
Outlook
2nd part of last week was driven by euro zone trouble that messed up the chart. Thus dollar yen will have to spend more time in this area to form a longer term base. A test of B-2 is not out of the question.
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