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USDJPY Inside Day at Fibonacci

USDJPY Inside Day at Fibonacci

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-jpy_body_usdjpy.png, USDJPY Inside Day at Fibonacci

Prepared by Jamie Saettele, CMT

“After several days at the 61.8% retracement of the rally from the February low, the USDJPY has rallied impressively and is again contending with the 20 day average and trendline resistance. Above 8055 would break the series of lower highs since the March top and shift focus to 8180. Still, I like jumping the gun on longs with a stop under 7900.”

LEVELS: 8180 8085 8054 7900 7830

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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