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USD/JPY Looks So Bearish That it Might be Bullish

By , Sr. Technical Strategist
03 March 2014 21:48 GMT

Daily

eliottWaves_usd-jpy_body_Picture_6.png, USD/JPY Looks So Bearish That it Might be Bullish

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-After tightening for most of February, the USDJPY gapped lower to begin March. Still, near term conditions remain of the range variety.

-A rally towards 103.45/85 remains favored as long as price is above the February low.

LEVELS: 99.13 100.60 101.02 | 101.62 102.00 102.52

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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03 March 2014 21:48 GMT