USD/JPY 102.26 is the Dividing Line

By DailyFx | Updated July 30, 2014 AAA

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USD/JPY 102.26 is the Dividing Line

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Range conditions are firmly entrenched between 101.35 and 103.25.”

-USDJPY has turned down from trendline resistance. Consider 102.26 the bull/bear dividing line at this point. Strength above the level would be an early sign that trade from the January high composes a bullish triangle. RSI divergence at the low may foreshadow a bullish resolution.

LEVELS: 100.43 100.74 101.34 | 101.85 102.08 102.26

--Trading ideas are availabletoJ.S. Trade Desk members.

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