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USD/JPY Key Reversal Follow Through; Could Reverse Yet Again

USD/JPY Key Reversal Follow Through; Could Reverse Yet Again

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Key Reversal Follow Through; Could Reverse Yet Again

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last USD/JPY update noted that “a period of congestion at lower levels may be in store given the importance of the price level and channel resistance.” USD/JPY has pulled back but today’s low (7/26) is in the vicinity of daily lows before and after Brexit so upside resumption is a distinct possibility.

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

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

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