Trading Edges That Last
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Lawrence's Comment Recap 1320 upside target tagged first thing in the week. Struggling at 1320, eventually fall back down to Y+1. The test confirmed its strength and that put Y+2 ...READ MORELawrence's Comment Recap ES opened the week by gapping up above Y-0 and filled the open gap above quickly. Retest of Y-0 confirm support and sent ES to test and clear Y+1 ...READ MORELawrence's Comment Recap The bear flag mentioned last time worked out and dropped ninja down to Y-2 where the 98 boundary is. Closed the week below midpoint and below Y-1. Outlook 2nd leg of ...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 MORELawrence's Comment Recap Expected more downside last week and it looked like it was about to happen with the bear flag setup into Wednesday. Then everything changed by the eco report. Euro ...READ MOREPrecog Vision – Forex 2023-4-25S&P 500 Feb 14 to Feb 18 OutlookS&P 500 Apr 27 to May 01 OutlookIntraday Cycle Projection (USDJPY) 2015-06-23USDJPY Jul 29 to Aug 02 OutlookPrecog Vision – Forex 2023-5-2EURUSD Jan 27 to Jan 31 OutlookWeekly Cycle Projection (USDJPY) 2015-09-07Intraday Cycle Projection (USDJPY) 2014-03-20EURUSD Sep 17 to Sep 21 Outlook
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USDJPY Sep 19 to Sep 23 Outlook
Lawrence’s Comment
Consolidation yes, but not within Y-0 upto Y+1. Dollar yen traded one level lower from Y-1 upto Y-0. That again was driven by news shocks from, who else, ECB and Fed.
Outlook
At the blink of structural break down, the central banks and government officials will do anything to maintain the status quo.
Crashing USD has been the plan, or aggregated consequence if that makes you feel better, from the start by actions from Fed and the US government.
Japanese government wanted a weaker yen but they cannot do it alone. What they want is in direct confrontation against the US government.
The weekly / monthly charts has compressed to the point that within 2 weeks (max 3 weeks) one of these 2 sides will fail. Do not trade this pair on swing trade or higher timeframes unless you have extremely good reason to do so.
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