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USD/JPY Hits Short Term Trendline Resistance

USD/JPY Hits Short Term Trendline Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

Chart Prepared by Jamie Saettele, CMT

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

-“Range expansion objectives from the December and March ranges are 125.72 and 128.12. Be aware of a long term slope level, especially in light of today’s (6/2) outside reversal. Tops formed at this line in March and July 2013. Bigger tops formed following ‘blow-offs’ through the line.”

-The gap through a minor support line warns of a larger decline in its early stages. Be aware of 121.40s and 120.50/80 as supports.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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