USDJPY Lowest 5 Day Range Since January
Prepared by Jamie Saettele, CMT
Today’s title says it all. The USDJPY 5 day range of .81% is the lowest 5 day range since January. Similar levels were registered in December 2011 and October 2011. In all instances, the initial move was wrong. Viewed in the context of 3 wave rallies at multiple degrees of trend, a sensible strategy is to short sharp rallies. Watch 79.12.
LEVELS: 7765 7790 7814 7877 7912 7958