USD/JPY First 200 Day Average Test Since NIRP
Chart Prepared by Jamie Saettele, CMT
-I wrote in the last update that “high for the move thus far is 105.53 which keeps the triangle idea intact. In other words…lower from here (allowing for corrective upside).” USD/JPY went lower…and then a lot higher. USD/JPY is testing the 200 day average right now…this is the first such occurrence since NIRP (1/29). A trendline comes in near 108.00. Strength through the trendline would indicate a major behavior change.