The USDJPY made some headlines but has yet to confirm a positive shift in sentiment and remains in a NEUTRAL DIGESTIVE technical state. Key off the 8987 Inflection Pivot for an indication of the session bias. This is the low point for any healthy pull-back. Above here the currency maintains a positive TRANSITIONAL tone, so be cautious buying into any early excitement. A breach of the 9117 resistance pivot will signal a test of the 9188-9182 resistance . If the rally is going to stall it will here. If not the recent highs at 9379 will be put to the test.
A failure from 8987 is a sign of weakness however a break below 8956 is needed to confirm a resumption of the negative momentum targeting 8861 on any turn for the worse. 8737 is the extended target for any new move south.
JS
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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 FREE Trial.
Identifying MARKET STATE, STRUCTURE and STRATEGY solutions
