USDJPY Vulnerable Towards 7860
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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.