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USD/JPY Drops into Support from 2/4 Close

USD/JPY Drops into Support from 2/4 Close

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-jpy_body_Picture_6.png, USD/JPY Drops into Support from 2/4 Close

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDJPY dropped into support from the 2/3 close at 101.63. A trendline confluence comes in near 101.40 on Friday. Look for a bounce.

-Resistance is estimated at 102.26/50 now.

LEVELS: 100.77 101.02 101.40 | 102.26 102.54 102.79

--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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