USD/JPY 103.90 a Possible Reaction Level for 103.40s
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-USDJPY has broken triangle resistance. The break opens up a test of 104.78 and maybe 105.30 or more.
-Recently broken resistance at 102.80 is now support if the market is thrust back into the range. The immediate bull case is strong above 103.08. Former resistance at 103.40 is support. The current level (103.90) is a good place for a reaction lower (previous reaction levels in Dec and Jan).
LEVELS: 102.45 103.00 103.45 | 103.90 104.20 104.78
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