Trading Edges That Last
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Lawrence's Comment Recap Option expiration last week. False breakout on first push against Y+1, gave us a go for the Y-0 play. Pullback to Y-0 overnight midweek and bounced back since. Retest ...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 MORENasdaq 100 Jul 30 to Aug 03 OutlookPrecog Vision – Forex 2021-2-26Intraday Cycle Projection (USDJPY) 2016-06-10Precog Vision – Forex 2012-9-3Precog Vision – Forex 2011-6-16Dow 30 May 17 to May 21 Outlook3DP Odds Table (USDJPY) 2014-11-12Dow 30 Feb 18 to Feb 22 OutlookPrecog Vision – Forex 2019-8-6Intraday Cycle Projection (USDJPY) 2017-05-04
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USDJPY May 07 to May 11 Outlook
Lawrence’s Comment
Flushed and then bounced. But first reaction pullback failed to tag Y-0 and also failed to hold above Y-1. Closed the week near week low.
Outlook
Flushing process started. The inability to even tagging Y-0 points to short term weaknesses.
Dollar yen at last line of defense here for its long term bullish setup. If it fails to hold above 79 on weekly close, the bottom built last year will likely be revisited again.
A quick rally breaking above B+1 will confirm reversal in place, pointing to retest of Y+1.
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