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USD/JPY Follows Through on Daily Reversal at Support

USD/JPY Follows Through on Daily Reversal at Support

2015-10-20 18:11:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/JPY Follows Through on Daily Reversal at Support

Chart Prepared by Jamie Saettele, CMT

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

-Previous comments remain valid. “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.”

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

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