Prepared by Jamie Saettele, CMT
The contracting range of the USDJPY raises the possibility of a bearish triangle. The implications from the current level would be for the range to tighten further for the next few weeks before a terminal thrust ends below 7712. 7860 is estimated resistance and 7790 estimated support.
LEVELS: 7712 7743 7790 7860 7923 7966