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USD/JPY Bounce or Bottom?

USD/JPY Bounce or Bottom?

Jamie Saettele, CMT, Sr. Technical Strategist

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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.

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

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