USD/JPY Slingshots off of 55 Day Average
Chart Prepared by Jamie Saettele, CMT
-“USD/JPY has reached the 55 day average. Even so, there is no suggestion from price that the drop is complete. Strength through 116.00 is needed in order to relieve downside pressure.” No suggestion turned into a 300 pip surge. Intraday action is volatile but the same levels remain important from a trend perspective. That is, USD/JPY is vulnerable sub-116.00.
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