USD/JPY Drops into Trendline Confluence
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-USDJPY broke the 9/2 low and traded into a trendline confluence from the lines that extend off of the August lows and former resistance line off of the May and July highs.
-The 61.8% retracement of the rally from 95.80 is just below the current level.
Trading Strategy: Need to see price stabilize before attempting longs again. Failure to hold here risks a drop into 96.70/90.
LEVELS: 96.70/90 97.44 97.63 | 98.55 98.80 99.10
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