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USD/JPY Closes Over Trendline; September High is at 100.60

By , Sr. Technical Strategist
14 November 2013 20:31 GMT

Daily

eliottWaves_usd-jpy_body_usdjpy.png, USD/JPY Closes Over Trendline; September High is at 100.60

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDJPY has closed over the line that extends off of the July and Sep highs.

-If a breakout is to occur this week, then price ideally stays above Monday’s low of 98.92. In bull trends, Monday lows and Friday highs are common.

Trading Strategy: Monitor for a final pullback into 99.60 (top side of trendline) for long entry against 98.90.

LEVELS: 98.91 99.23 99.78 | 100.22 100.60 100.97

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14 November 2013 20:31 GMT