USD/JPY Trades around Long Term Support Line
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 and is currently trading around a long term support line (line that was support in October 2014, August 2015, and October 2015).