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  • The $AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here: https://t.co/LkEFJViPWY https://t.co/sofO135ElG
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USDJPY 8015 Serves as Bullish Pivot

USDJPY 8015 Serves as Bullish Pivot

2012-05-28 17:48:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-jpy_body_usdjpy.png, USDJPY 8015 Serves as Bullish Pivot

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.” The bullish pivot can be moved to 8015.

LEVELS: 7830 7900 7970 8015 8060 8150

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