USD/JPY 5 Days Up; 102.50/70 is Still a Reaction Zone
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-USDJPY has rebounded 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.
-The bond market reversal today requires that we consider something more bullish in USDJPY. 102.70 is a reaction level but a better tell might not come until 103.05/26.
LEVELS: 101.19 101.63 102.12 | 102.50 102.70 103.20
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