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USD/JPY Bounce or Bottom?

USD/JPY Bounce or Bottom?

2016-04-21 19:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/JPY Bounce or Bottom?

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to recent USD/JPY comments. “USD/JPY has broken down from a running triangle. The objective is 107.06 but be aware of reversal warning signs, including divergence with gold (not at a new high), and divergence with the Nikkei 225 (not at a new low).” USD/JPY has turned up following the divergence warning with related markets. Watch for resistance from the underside of former triangle support (running triangle) near 110.

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

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