USDJPY Focus is on 8160/8200
Prepared by Jamie Saettele, CMT
I wrote yesterday that “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.” Price dropped under 8300 and to 8230 today. Look lower to the mentioned 8160-8200. Resistance is 8275 and 8310.
Bottom Line (next 5 days) – bottoming
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