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USDJPY Awaiting Range Break

USDJPY Awaiting Range Break

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-jpy_body_usdjpy.png, USDJPY Awaiting Range Break

Prepared by Jamie Saettele, CMT

No change: “What’s interesting is the USDJPY key reversal on the first day of the month last week. This is a powerful combination. It would be much more bullish without the specter of 3 waves up from 7765, which is bearish. Still, the signal is too strong to pass up based on a subjective wave count. Look higher against 7789. 7912 and 7958 may pose problems for bulls if reached.”

LEVELS: 7765 7790 7814 7877 7912 7958

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