Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-USDJPY has closed over the line that extends off of the July and Sep highs.
-If a breakout is to occur this week, then price ideally stays above Monday’s low of 98.92. In bull trends, Monday lows and Friday highs are common.
Trading Strategy: Monitor for a final pullback into 99.60 (top side of trendline) for long entry against 98.90.
LEVELS: 98.91 99.23 99.78 | 100.22 100.60 100.97