The USDJPY is trying to save face and will need to sustain a trade above the 9269 Inflection Pivot to maintain its composure. A held failure here is a sign of weakness that puts the MKT on the defensive down to 9195 and 9174 on any negative turn. Stay nimble. A positive reaction is expected. Don't fight any sustained weakness at these levels however as the an acceleration to the downside is expected targeting 9047 and 8971.
A held trade above 9310 will give the buyers something to work with up to the 9343 resistance pivot. If the rally is going to fizzle it will here. A held breach is expected to spark a little excitement targeting 9416 on the initial move. Work any positive structure. 9650 and 9751 are the extended targets for any short term sentiment shift.
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.
A held trade above 9310 will give the buyers something to work with up to the 9343 resistance pivot. If the rally is going to fizzle it will here. A held breach is expected to spark a little excitement targeting 9416 on the initial move. Work any positive structure. 9650 and 9751 are the extended targets for any short term sentiment shift.
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.
