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USD/JPY Support Response at 110.66 is a Good Sign

USD/JPY Support Response at 110.66 is a Good Sign

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Support Response at 110.66 is a Good Sign

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last USD/JPY noted that “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 sharply. Today’s dip found support at 110.66 (March low), which is promising for near term continuation.

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