If you seen my post on 8/6 we fell just short of a couple pips of target T3-102.70 before retrace. I’m not bearish on USDJPY because if you look at the chart bulls came in at support 50 % retrace @ 101.75 which also coincidently is the central WPP and as long as stay above I believe will be back up above 102.00 with targets WM4 T1/103.40 and T2/103.80. If we should break below 101.50 sell lower highs and will most likely be range trading between 101.50/100.80 based on previous history.

USDJPY

**Notice -- long wicks at WPP

One thought on “USDJPY update for 8/9”

  1. JohnA says:

    I guess I should have read this before posting….

    Japanese shares fell for the first time in three days, with tiremakers and insurers leading declines, after the yen gained as risk appetite weakened ahead of a national holiday.

    http://www.bloomberg.com/news/articles/2016-08-10/japanese-shares-fall-first-time-in-three-days-as-yen-advances

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