USD/JPY Nears Possible Reaction Line
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“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.
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