USDJPY Vulnerable Towards 7860

Daily Bars

Prepared by Jamie Saettele, CMT

“The environment is conducive to false breaks as the pop above 80 demonstrates. As mentioned last week, “viewed in light of 3 wave advance from 7765, I’ll need a move above 8061 before I can trust USDJPY strength.” Until then, the pair is vulnerable.” There is nothing else to note than we are in a range and even breaks are not to be trusted in the low volatility environment.

LEVELS: 7810 7860 7912 7955 8010 8060