USD/JPY Tight Range Maintained but 123 is a Level to Know
Chart Prepared by Jamie Saettele, CMT
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-USD/JPY has pulled back from range highs but as mentioned previously, “…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.” Be aware of 123 (long term upward sloping median line) as potential resistance if reached.
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