USD/JPY Trying to Put in a Ceiling at Mid-118.00s?
Chart Prepared by Jamie Saettele, CMT
-The last update (December 15th) noted that “the move is extreme but I don’t know what that means anymore. 2015 support levels to be aware of are 118.33 (already hit) and 120.40.” It’s only appropriate that 12/15 was a minor top after I’d expressed bewilderment with respect to the move being ‘extreme’. The high was not quite re-tested today and a trendline has influenced so expressing a USD/JPY bearish view isn’t the dumbest thing in the world anymore.