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USD/JPY Breakout; Former Resistance is Support Near 102.50

USD/JPY Breakout; Former Resistance is Support Near 102.50

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-jpy_body_Picture_6.png, USD/JPY Breakout; Former Resistance is Support Near 102.50

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“After tightening for most of February, the USDJPY gapped lower to begin March. Still, near term conditions remain of the range variety.”

-“A rally towards 103.45/85 remains favored as long as price is above the February low.” Look higher.

LEVELS: 102.26 102.52 102.79 | 103.12 103.44 103.85

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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