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USD/JPY Nears Possible Reaction Line

USD/JPY Nears Possible Reaction Line

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

USD/JPY Nears Possible Reaction Line

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“The biggest (and most obvious) level that sticks out is 115.00/50 (range expansion level is 114.98 and inflection points in 2002 and 2007).” The market reacted at 115.50 last week and has broken through today. Watch for resistance at the upper median line parallel near 116.40.

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

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