USDJPY Consolidates at 3rd Standard Deviation Band
Prepared by Jamie Saettele, CMT
Volume on Friday (futures) was the highest since October 31, 2011 (that was an intervention). Such volume tends to indicate exhaustion. Combine this with today’s inside day, presence of support from former congestion (end of 2011), and the early month implications (reversals) and we’ve got a long setup against the low.
LEVELS: 7735 7765 7800 7900 7980 8015
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