4Hour
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–USDJPY gapped lower Sunday evening. The low for the day was made during the first hour of trading. Price pierced the 9/6 low (NFP day low) and 20 day average before closing near the day’s high.
-The decline from 100.60 channels in a corrective manner (3 waves) and nearly consists of 2 equal waves.
Trading Strategy: Action isn’t right for a breakout last week so I moved to flat. Action down here however is favorable for dip buyers. Long, against 98.20.
LEVELS: 98.20 98.50 99.00 | 99.70 99.89 100.60