USD/JPY Long Term Support Line Near 120
Chart Prepared by Jamie Saettele, CMT
-Recent USD/JPY comments read “the breakout has stalled at former support (the line that extends off of the early 2015 lows). The rally from the August low also consists of 2 equal waves so it’s possible that the rally is done. Below 121.70 would suggest as much. Until then, respect upside.” USD/JPY broke lower (currently around 121.70) which opens up another run at the critical support line (was support in August and October) near 120.