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USD/JPY 4 Days Up; 102.50/70 is Resistance

Jamie Saettele, CMT

Daily

eliottWaves_usd-jpy_body_Picture_6.png, USD/JPY 4 Days Up; 102.50/70 is Resistance
eliottWaves_usd-jpy_body_Picture_6.png, USD/JPY 4 Days Up; 102.50/70 is Resistance

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDJPY has rebounded from the line that extends off of the February and 3/14 lows. The rally from the February low channels in a corrective manner and makes 104.12 important from a bigger picture bearish perspective.

-The rate has traded into the estimated resistance zone (102.00/50). I’m on the lookout for a top (102.50?).

LEVELS: 101.19 101.63 102.12 | 102.50 102.70 103.20

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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