News Column

USD/JPY Continues to Probe 20 Day Average

April 28, 2014

Jamie Saettele, CMT

Daily

USD/JPY Continues to Probe 20 Day Average

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.



-USDJPY responded to 102.70 so I'm looking lower. 103.05/26 is still resistance if reached.



LEVELS: 101.19 101.63 102.19 | 102.70 103.05 103.26

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




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Source: DailyFx


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