USD/JPY at Range Highs; 103.25 Still Possible

By DailyFx | August 05, 2014 AAA

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USD/JPY at Range Highs; 103.25 Still Possible

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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. Below 100.75 (February low) would open up 99.00/56.” 102.26 was taken out and that level now becomes possible support.

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

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