USD/JPY Outside Day Reversal Warns of Pullback
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Former highs at 101.52 and 100.60 are now possible supports, especially 100.60-101.10. Resistance before the high is 102.80.
Trading Strategy: Trailed out of the rest of USDJPY longs at 102.20. I’m flat at the moment.
LEVELS: 101.14 101.52 101.90 | 102.80 103.73 105.31
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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