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Looking to Buy USD/JPY

Looking to Buy USD/JPY

Joel Kruger, Technical Strategist

We will hold off for now with a retest of the October record lows seeming likely. However, we still think this market is in the process of attempting to carve out a more complex bottoming pattern ahead of a major bullish trend reversal over the coming months. As such, our strategy will be to look for a break of the record low and some stretched daily studies and then look to establish a fresh counter-trend long.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.