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USD/JPY Attempts Triangle Breakout

USD/JPY Attempts Triangle Breakout

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-jpy_body_Picture_6.png, USD/JPY Attempts Triangle Breakout

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDJPY is threatening triangle resistance. A break opens up a test of 104.78 although new multiyear highs would eventually be expected.

-Recently broken resistance from 102.30 to 102.80 is now support if the market is thrust back into the range.

LEVELS: 101.63 102.30 102.80| 103.40 103.75 104.78

--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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