USD/JPY Stalls Ahead of August High
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-The USDJPY closed above the line that extends off of the May and July highs. That line is now estimated support.
-Price reversed shy of the August high and slightly above upward sloping channel resistance.
Trading Strategy: Bias is long against 98.25. I am trading from the long side – real time comments can be found on Twitter @JamieSaettele. Have 98.75-99.00 marked as support in the event of a deeper pullback.
LEVELS: 98.27 98.75 99.00 | 99.94 100.97 101.53
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.