USD/JPY Slope Support to the Rescue (Same one as in August)
Chart Prepared by Jamie Saettele, CMT
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-From a long term perspective, USD/JPY back to 100 isn’t all that difficult to imagine (former 4th wave… see the count). The rate found support today (10/15) from the parallel extends off of the October 15th, 2014 low (10/15 must be a popular day to sell Yen). This line also pinpointed the 8/24/15 crash low. It’s tough to be bearish as long as this line holds.
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