FOREX Technical Analysis: USD/JPY Sinking Towards Prior Week’s Low
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: The USDJPY has started December slightly weaker and near term focus is lower towards 8158, 8116, and perhaps 8088. Friday’s FX Technical Weekly provides a detailed look at what may be going on longer term. COT positioning is not to be ignored.
FOREXTrading Strategy: I am short and stops are moved down from 8290 to 8250. 8116 is the first objective.
LEVELS: 8088 8116 8158 8225 8250 8283