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USD/JPY Outside Day after Failed Run at 2014 Low

USD/JPY Outside Day after Failed Run at 2014 Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Outside Day after Failed Run at 2014 Low

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.” Last week’s high (outside week) at 102.35, is the new pivot.

-A break would target 99.44 (2 equal legs from the Jan high).

LEVELS: 100.00 100.74 100.93 | 101.62 101.95 102.21

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

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