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USDJPY: Looking for Long Entry Signal

USDJPY: Looking for Long Entry Signal

Ilya Spivak, Head Strategist, APAC

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya 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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