USD/JPY Coil Tightens
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“USDJPY held up into the New Year but dipped below channel support last week. A sideways pattern could take hold. 116.40-117.20 is a zone to watch for support.”
-“The rate slid below the mentioned 116.40 but did hold the December low. Favor the range with resistance starting near 118.80.”
--Trading ideas are availabletoJ.S. Trade Desk members.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.