Japanese Yen Reaches Channel Resistance (USDJPY Channel Support)
240 Minute Bars
Prepared by Jamie Saettele
I wrote yesterday that “with the rally from 8309 (composes wave 5 of 3) in 5 waves, the probability of a pullback in wave 4 is high. 8300/13 is support.” The USDJPY has reached Elliott channel support so expectations are for a low. Price should remain above 8250 (wave i high).
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