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USD/JPY Probably Headed for 103.25 Test

USD/JPY Probably Headed for 103.25 Test

2014-06-02 19:13:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/JPY Probably Headed for 103.25 Test

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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 103.25.”

-Monday’s developments suggest that 103.25 will be seen…probably this week.

LEVELS: 101.35 101.85 102.16 | 102.77 103.00 103.25

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

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