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USD/JPY April High is a Possible Reaction Level above 104

USD/JPY April High is a Possible Reaction Level above 104

2014-08-21 00:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/JPY April High is a Possible Reaction Level above 104

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.”

-Range conditions are no more as momentum suggests that a new bull leg is underway. Watch the April high for a reaction just above 104 and for support to come in at 103.10/30 depending on when (or if) it gets there. 104.78 is a near term target.

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

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