USDJPY Sep 26 to Sep 30 Outlook

By News Robot

Lawrence’s Comment

Recap
Further compression happened. Price broken down to Y-2 resulted in a strong bounce from Y-2 twice. However, closed the week at midpoint below Y-1.

Outlook
Clearly intervention at this 76 level is getting more and more likely. The effect, however, can be weaker than most expected and short lived due to the fact that no one else is going to help Japanese government to pop dollar yen this time.

Not a good pair to trade in general until we get a clear trend breaking out from this zone.

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