Weekly Bars

Prepared by Jamie Saettele, CMT
The USDJPY continues to slip and has reached the much discussed 7830 (resistance throughout late 2011). There is nothing to suggest that a low is in place right now and the next level of support is 7780. I’d be willing to try longs on a test and rebound from that level with an initial stop (plan on moving it up) below 7600.
LEVELS: 7735 7780 7830 7900 7980 8015