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USD/JPY Pressing 4 Month Resistance Level

USD/JPY Pressing 4 Month Resistance Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Pressing 4 Month Resistance Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Range conditions are firmly entrenched between 101.35 and 103.25.”

-The near term bias remains towards 101.35. 102.55/80 is resistance.

-Risk is lower below 103.08 and a break below 100.75 would shift focus to 99.00/56. Exceeding 103.25 (daily close) would open up the April high at 104.12 and a measured target at 104.65.

--Trading ideas are availabletoJ.S. Trade Desk members.

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