Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–The USDJPY closed above the line that extends off of the May and July highs. That line is now estimated support.
-Price reversed shy of the August high and slightly above upward sloping channel resistance.
-The Nikkei 225 has yet to break through its May-July trendline however and the risk of a false break remains as per concerns over the proximity of the break to the triangle’s apex.
Trading Strategy: Bias is long against 98.25. I am trading from the long side – real time comments can be found on Twitter @JamieSaettele. Have 98.75-99.00 marked as support in the event of a deeper pullback.
LEVELS: 98.27 98.75 99.00 | 99.94 100.97 101.53