Chart Prepared by Jamie Saettele, CMT
FOREXObservations: The USDJPY tagged the June high on Friday and weakness since then has unfolded in an impulsive fashion. It is possible that weakness will compose a corrective 4th wave.
FOREXTrading Strategy Implications: As long as price is below Friday’s high, the risk is lower towards 7927. I prefer to play yen strength through EURJPY however.
LEVELS: 7927 7963 7996 8067 8100 8148