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USDJPY Outside Day Provides Reference Point for Trading

USDJPY Outside Day Provides Reference Point for Trading

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Candles

eliottWaves_usd-jpy_body_usdjpy.png, USDJPY Outside Day Provides Reference Point for Trading

Prepared by Jamie Saettele, CMT

“Is the USDJPY starting to make a move? A break above 7921 would warrant a bullish bias towards at least 7981. 7921 is the 9/19 high and 23.6% extension of the record low to March high extended off of the September low. Until price breaks 7921, the market is in a range with 7830/60 as support.”

LEVELS: 7790 7836 7860 79217965 7981

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