USD/JPY Trading Between Fibonacci Level and Moving Average
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: Wrote Tuesday that “the late day low is in the vicinity of former range highs and the midpoint of the 20 day range, so this is a good place for a bounce. Expect resistance from 97.54 to 98.27. The next estimated support zone is 94.90-95.74.” With the hold, the trend must be considered higher still. A new high could also complete an ending diagonal from 90.84…then we would have a monster short opportunity.
FOREXTrading Strategy: Flat
LEVELS: 95.79 96.70 97.20 98.42 99.05 99.67
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