USDJPY 7790 a Level to Keep in Mind
Prepared by Jamie Saettele, CMT
A deeper look at price action reveals that last Friday’s low was several pips from the close of the 9/13 low (Fed day). The reaction at that level is telling. The USDJPY remains constructive against 7743 although a deeper retracement of the 7743-7871 rally wouldn’t be a surprise given the failure to close above the 61.8% retracement of the decline from 7921. Expect support at 7790.
LEVELS: 7743 7790 7830 7870 7923 7966