USD/JPY April and May Highs Could Produce a Reaction
Chart Prepared by Jamie Saettele, CMT
-I wrote in the last update that “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.” Major behavior change indeed but be aware of 111.44/88 (May and April highs) as possible resistance.