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USD/JPY Stuck in Neutral at Trendline

USD/JPY Stuck in Neutral at Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-jpy_body_Picture_6.png, USD/JPY Stuck in Neutral at Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDJPY is trading on support from the line that extends off of the February and 3/14 lows. The rally from the February low channels in a corrective manner and makes 104.12 important from a bigger picture bearish perspective.

-102.00/50 is still resistance.

LEVELS: 100.40 100.75 101.20 | 102.15 102.50 102.80

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

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