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USD/JPY; 105 Handle Loaded with Technical Significance

USD/JPY; 105 Handle Loaded with Technical Significance

2016-05-03 19:54:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/JPY; 105 Handle Loaded with Technical Significance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The 105 handle is huge for USD/JPY. The head and shoulders target is 115.26. The October 2014 low is 105.19 and the January 2014 high is 105.44. A rally from such a well-defined level would not be a surprise. Former lows at 107.60 would be initial resistance in the event of a bounce.

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

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