Trading Edges That Last
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USDJPY May 21 to May 25 Outlook
Lawrence’s Comment
Y-0 acted as support and we got the breakout to Y+2. But the rally did not last. Y+1 not even acting as support when news hit and flushed. News shock points to the other extreme which is Y-2. Ninja tagged there and closed the week at its low.
Outlook
We cannot predict news shock but we can react to that. The selloff can be the making of a w. spring, or, a real melt down, so no bottom picking for sure.
Very interested in how next week ninja will behave. Early week buy setup above B-1 will send the pair back up to B-0 quickly.
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