USD/JPY Range Tightens; 101.40/60 Still Support
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“USDJPY has dropped into support from range lows. Bigger picture, USDJPY may be in for a downside surprise however. The rally from the February low is corrective and weakness from the March high (after NFP) is impulsive.”
-“Near term conditions may very well remain of the range variety as a small degree correction plays out. Resistance is estimated at 102.26/80 now. Support is 101.40/60.” 101.30 is the breakdown level.
LEVELS: 101.30 101.60 101.89 | 102.32 102.79 103.26
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