USDJPY Testing 20 day Average and Trendline
60 Minute Bars
Prepared by Jamie Saettele, CMT
The USDJPY has traded sideways for 5 days since the bearish key reversal last Monday. Such action often presages a weak market. 7860 remains the key longer term pivot but the Monday reversal isn’t consistent with a larger bull market. Exceeding 8000 while remaining above 7912 would be a good sign for bulls.
LEVELS: 7810 7860 7912 8000 8060 8150
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