USD/JPY Pushes to High for Month; Former High at 99 of Interest
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-Impulsive strength is consistent with formation of an important low. 98.72 (Oct high) to 99.13 (9/26 high) is a likely area for a near term top to develop. The ensuing pullback, possibly a 2nd wave, could be sharp.
-97.50/60 is likely support, followed by 97.20 and 96.85.
Trading Strategy: Expecting a pullback from nearby - 97.50/60 ultimately of interest as support.
LEVELS: 97.50/60 97.99 98.27 | 99.13 99.66 99.88
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