Trading Edges That Last
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Lawrence's Comment Recap Capped by previous week close / Y-0. Eventually did the test of Y-1 and took off before it was even tagged. Cleared previous week close and gave us equal ...READ MORELawrence's Comment Recap Consolidation around Y+1 with 50% range as expected. Closed the week at the week high. Outlook No real weaknesses showing in the chart yet. Sell setup on 4 hours can ...READ MORELawrence's Comment Recap Target mentioned last week tagged first and then bounced off. Second drop broken Y-1 support level and the downside target Y-2 tagged by the end of the week. Outlook Three ...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 MOREGBPUSD Jun 09 to Jun 13 OutlookUSDCAD May 28 to Jun 01 OutlookDow 30 Jan 31 to Feb 04 OutlookIntraday Cycle Projection (USDJPY) 2020-08-27Intraday Cycle Projection (USDJPY) 2012-09-133DP Odds Table (USDJPY) 2013-04-19S&P 500 Sep 13 to Sep 17 OutlookUSDCAD Apr 11 to Apr 15 OutlookIntraday Cycle Projection (USDJPY) 2013-08-27Precog Vision – Forex 2016-5-11
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USDJPY May 26 to May 30 Outlook
Lawrence’s Comment
Finally a flush lower was allowed. Y-2 downside target tagged. Then BOJ + Japanese government came out jawboning ninja into reversal. Closed the week above Y-0 and near week high.
Outlook
A forced reversal is in place. It does not matter what caused the reversal. What matters is that it reversed from the right price level and formed FBO against the long term support.
As long as B-0 / Y-1 acting as support, B+2 and more upside is likely.
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