USD/JPY 102.40 and 102.77 are Possible Topping Points
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.” NFP Friday makes 103.01 the new important level.
-102.20 failed to inspire a strong reaction lower. Fibonacci resistance rests at 102.40. The post NFP hourly close is also possible resistance at 102.77.
LEVELS: 101.19 101.56 101.88 | 102.40 102.77 103.01
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.