USD/JPY Consolidating Losses
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “USD/JPY has broken down from a running triangle. The objective is 107.06 but be aware of reversal warning signs, including divergence with gold (not at a new high), and divergence with the Nikkei 225 (not at a new low).” USD/JPY has turned up following the divergence warning with related markets. Watch for resistance from the underside of former triangle support (running triangle) near 110.
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