USD/JPY Responds to 50% Retracement of April Range
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.
-USDJPY responded to 102.70 so I’m looking lower. 103.05/26 is still resistance if reached.
LEVELS: 101.19 101.63 102.13 | 102.70 103.05 103.26
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