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USD/JPY Fills 2014 BoJ Gap; Next Chart Level is 110.09

USD/JPY Fills 2014 BoJ Gap; Next Chart Level is 110.09

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Fills 2014 BoJ Gap; Next Chart Level is 110.09

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“A major topping pattern has completed in USD/JPY. The target from the pattern resides near 105, which would result in a move back to the October 2014 low. There are of course levels of interest before that point, notably the gap from 2014 at 112.31.” USD/JPY traded through 112.31 today. There is a chart level to be aware of (September 2014 high) at 110.09. Other than that, there is no reason not to look towards the head and shoulders objective.

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

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