Daily Bars
Prepared by Jamie Saettele
The USDJPY has broken to a new low and focus remains on the all time low just below 8000 (1995 low). A multi month channel defines the near term trend but RSI divergence on the daily (multiple times over the past several months) warns (not confirms) of a reversal. The channel levels are 8542 and 8287 today and decrease 10 pips per day.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to jsaettele@dailyfx.com.
DailyFX provides forex news on the economic reports and political events that influence the currency market.
Learn currency trading with a free practice account and charts from FXCM.
