USDJPY Bull Flag from March High
Prepared by Jamie Saettele, CMT
Precision regarding levels and pattern is warranted now that the correction has taken on an identifiable form, specifically an A-B-C corrective decline. Wave B is a triangle and the NFP print on Friday triggered the terminal thrust in wave C. Evidence is sufficient to warrant longs again. If the larger trend has turned up, then Monday’s low ideally holds. Failure to hold would shift focus to the March low at 8060.
Bottom Line (next 5 days) – up
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