USDJPY Testing 20 day Average and Trendline
Prepared by Jamie Saettele, CMT
The USDJPY continues to press against the trendline that extends off of the June lows and the 20 day average reinforces the area. Reward/risk is favorable against 7860 on a longer term basis but Monday’s key reversal at the May high isn’t consistent with bull market action and leaves price vulnerable.
LEVELS: 7810 7860 7920 7985 8025 8060