Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-Impulsive strength is consistent with formation of an important low. 98.72 (Oct high) remains the line in the sand for a larger bearish outcome.
-Near term move is getting extended but may test 98.50/70 before a pullback. 97.65/85 is support.
Trading Strategy: Still playing Yen weakness through NZDJPY with a limit at 82. In the case of USDJPY, price may complete an impulse (5 wave rally) into 98.50/70 before a pullback materializes.
LEVELS: 96.86 97.47 97.84 | 98.26 98.72 98.99