Japanese Yen 8110 is Key Level
Prepared by Jamie Saettele
“One can view the USDJPY action since November as consolidation prior to a continuation of weakness or a basing pattern that will lead to a break higher.” The strong rally clarifies the picture as I had pegged 8321 as the bullish pivot. The break above that level favors the idea that the sideways trade since the November low is a bullish base rather than a triangle. Focus is on 8450 and 8110 is critical to the bullish bias.
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