USD/JPY Responds to 101.35 Support
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 103.25.”
-“Look lower as long as price is below 102.80 but beware of supports at 101.35 and 101.16.” USDJPY has responded to the former level and could work higher from here.
LEVELS: 100.74 101.16 101.35 | 101.85 102.10 102.35
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