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USDJPY: Looking for Long Entry Signal

By , Currency Strategist
30 March 2012 12:06 GMT

Strategy: Pending Long

USDJPY is testing support at 81.86, the confluence of a recent range bottom, a rising trend line set from late February, and an emerging short-term falling channel. We broadly favor a bullish bias but see no actionable entry signal at present and will stand aside for now until something more actionable emerges.

USDJPY_Looking_for_Long_Entry_Signal_body_usdjpy.png, USDJPY: Looking for Long Entry Signal

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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30 March 2012 12:06 GMT