USDJPY Intraday Reversal
Prepared by Jamie Saettele, CMT
The rally to 8409 may have completed 5 waves up from 8001 (2/28 low). A constructive bias remains in place above 83 (rally from there an ending diagonal?) but a drop below would shift focus to the 20 day average and early March resistance at 8185-8200. In the event that 8300 holds and the USDJPY heads higher, the objective remains 8500/50.
Bottom Line (next 5 days) – topping / topped?
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