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USD/JPY is Heavier than Lead

USD/JPY is Heavier than Lead

Jamie Saettele, CMT, Sr. Technical Strategist


USD/JPY is Heavier than Lead

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Activity over the last week in USD/JPY drives home the point that the current market is very different than that of the last few years. The BoJ inspired rally (into resistance no less…200 day average and former slope support) has been completely retraced. That’s new as such rallies used to extend. Remember, a major topping pattern would complete on a break under 115.50.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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