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USD/JPY Drift Takes Out 20 Day Average

USD/JPY Drift Takes Out 20 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Drift Takes Out 20 Day Average

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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 tested the 102.70s again on Tuesday. 103.05/25 might need to be tested before a strong decline takes hold.

LEVELS: 101.63 102.05 102.36 | 102.80 103.05 103.26

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

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