USD/JPY Range Trading Favored Between 101.35 and 103.25
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-102.35 (lower highs) remains important to the possibility of a breakdown but last Wednesday’s outside day reversal at the 200 day average and (just as important) the next Thursday’s follow through on that reversal puts a dent in prospects for an immediate breakdown and leaves range conditions firmly entrenched between 101.35 and 102.35.
LEVELS: 100.93 101.35 101.93 | 102.21 102.50 103.01
--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.