USD/JPY Outside Week; at Trendline Now
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“Range conditions are firmly entrenched between 101.35 and 103.25.”
-USDJPY has rebounded from 101.35 to reach trendline resistance. The larger range bias remains but the June high at 102.79 is important because the rate hasn’t broken an important high since April. 102.79 intersects the next trendline in the middle of next week.
LEVELS: 100.74 101.35 101.85 | 102.35 102.50 103.25
--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.