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USD/JPY Daily Key Reversal at Recovery Highs

USD/JPY Daily Key Reversal at Recovery Highs

Jamie Saettele, CMT, Sr. Technical Strategist


USD/JPY Daily Key Reversal at Recovery Highs

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-USD/JPY made a daily key reversal today so a triangle leg could be complete. Remember, “price action since the June low (Brexit) could end up as a triangle before another leg lower unfolds.” Even so, the more important level on the chart is the May low at 105.55. A close above that price would be seen as evidence of a broader structural shift.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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