USDJPY Stabilizes at March Low
Prepared by Jamie Saettele, CMT
Price is holding the March low (8058) but that’s it. In the event of a more substantial bounce, resistance comes in from former supports at 8154 and 8196. A bounce of that magnitude would offer a chance to short against the April high of 8330. The October 2011 intervention high at 7953 is an objective.
Bottom Line (next 5 days) – sideways/down
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