The USDJPY cross produced a negative signal and is flirting with a negative shift. 9482 is the Inflection Pivot keeping the signal in play down to the 9405 support. If the MKT is going to stabilize it will here. A held failure confirms the negative signal targeting 9251 on any downside follow through. Expect a reaction. 9116 is the lower extreme.
If the negative signal is valid the MKT will close lower and at some point in the session take out yesterday's low at 9403. A rise above 9482 puts the signal in question with 9562 the high point for any reversal of fortune. Although a reaction is expected trading at these levels is expected to be erratic with 9719 the high point for any false hope . No follow through is expected.
JS
This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.
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