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USDJPY: Stand Aside in Quiet Range Trade

USDJPY: Stand Aside in Quiet Range Trade

Ilya Spivak, Head Strategist, APAC

Strategy: Flat

USDJPY standstill continues with prices locked in a narrow range above 76.58. We see no compelling trading opportunities here for now and will remain on the sidelines. A break downward initially exposes 76.21. Near-term resistance stands at 77.48.

USDJPY_Stand_Aside_in_Quiet_Range_Trade_body_Picture_5.png, USDJPY: Stand Aside in Quiet Range Trade

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

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

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