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US Dollar / Japanese Yen 03-31

US Dollar / Japanese Yen 03-31

2010-03-31 15:03:00
Jamie Saettele, CMT, Sr. Technical Strategist
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usdjpy0331

 
I wrote yesterday that “a 5 wave rally from 8962 is nearing completion.  A correction of the advance, probably back to 9175, is increasingly probable.”  That correction appears to be underway now.  Keep in mind that until 9380 gives way, the USDJPY is still considered range bound.  
 

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 atDailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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