News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
USDJPY Consolidates Following Sharp Moves

USDJPY Consolidates Following Sharp Moves

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-jpy_body_usdjpy.png, USDJPY Consolidates Following Sharp Moves

Prepared by Jamie Saettele, CMT

The USDJPY correction from 8417 may be complete as the sharp advance from former resistance (circled) is exactly what one would expect to see if the larger uptrend is indeed resuming. Yesterday’s low (8154) is critical to the bullish case but as I wrote yesterday, “I’d prefer to see the USDJPY hold the low for several days before trying the long side.” 8330/50 is resistance.

Bottom Line (next 5 days) – sideways/up?

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