I have found a good work-around for continue (love the break sample above). Here I do not want to list "agency". In PHP I'd "continue" but in twig, I came up with alternative:
{% for basename, perms in permsByBasenames %}
{% if basename == 'agency' %}
{# do nothing #}
{% else %}
<a class="scrollLink" onclick='scrollToSpot("#{{ basename }}")'>{{ basename }}</a>
{% endif %}
{% endfor %}
OR I simply skip it if it doesn't meet my criteria:
{% for tr in time_reports %}
{% if not tr.isApproved %}
.....
{% endif %}
{% endfor %}