USD/JPY Estimated Resistance is 98.88
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: The USDJPY broke 3 week consolidation to the downside last night. Near term focus remains lower towards the lower channel line that defines that downtrend since 7/7 although a tag of resistance at 98.88 may be in store first. A break of the lower channel would open up 96.40 and 95.35.
FOREXTrading Strategy: Continue to play through GBPJPY. Resistance is 141.40/50.
LEVELS: 95.35 96.40 97.51 98.46 98.90 99.40
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