USD/JPY – Sneaky Bullish?
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “the rally failed at trendline resistance. Also, daily RSI failed at the same area it’s failed at all year, which is disconcerting for the bull camp. The outlook is unclear but strength above the trendline would be viewed in a bullish light.” USD/JPY action of late is ‘sneaky bullish’. Price found support on 9/7 at the top side of a parallel. Strength above the noted is trendline is still needed to suggest this is headed higher.