USDJPY - Flip Flop

The USDJPY switched gears bouncing off support and producing a positive corrective signal. This MKT is fighting higher and corrective states can be erratic. For now key off the 9460 Inflection Pivot for an indication of the session tone. Above here the positive signal is in play targeting 9568-9562 on any upside follow through. Be patient. If the rally is going to fizzle it will here. A held breach and the positive momentum can carry as high as 9719-9700 before it exhausts.



- A break under 9460 signals this MKTs intentions of going nowhere. Time to look elsewhere for opportunity as they only thing going on will be lower premiums.


JS


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Posted by John Slazas at 10:16 PM 0 comments
Labels: FOREX: USDJPY