Japanese Yen Back to Earthquake Day Range
60 Minute Bars
Prepared by Jamie Saettele
The USDJPY has nearly completely retraced the decline from the 3/11 high (3/11 was the day of the earthquake). The rally from the low is now in 5 waves, which makes it highly likely that a longer standing low is in place at the mid March panic decline low. Given the 5 wave rally, expectations are now for a corrective decline towards 8050.
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