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US Dollar / Japanese Yen 03-16

US Dollar / Japanese Yen 03-16

2010-03-16 14:54:00
Jamie Saettele, CMT, Sr. Technical Strategist
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 usdjpy0316

  “Given the extent and structure of the USDJPY advance from 8813, it is possible that an A-B-C decline is complete from 9380.  A move above 9217 would strongly suggest that the USDJPY is headed above 9380, which would indicate a breakout above trendline and channel resistance.”  Still, until a move above 9380 or drop below 8813, conditions can be described as rangebound at best.   

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.  Traders can meet me at the FXCM Expo in Las Vegas on May 3rd and 4th.  You can register to attend at www.fxcmexpo.com.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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