USD/JPY Breakout; Under 120 Negates
Chart Prepared by Jamie Saettele, CMT
-Previous comments were that “USD/JPY continues to press range highs as long term slope support continues to hold (line pinpointed the October 2014 and 8/24/15 ‘crash’ lows). It’s tough to be bearish for anything other than short term pullbacks as long as this line holds.” At this point, the upside is favored as long as price is above 120 (recent pullback low is 120.15).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.