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USD/JPY Slammed Back to 2014 Base

USD/JPY Slammed Back to 2014 Base

2016-08-02 17:47:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/JPY Slammed Back to 2014 Base

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The USD/JPY decline since June 2015 has been far from smooth but weakness since the NIRP failure at the end of January is contained within a channel. The bottom of that channel is near 95 towards the middle of August. Strength through channel resistance (the channel is steep and decreases significantly with the passage of time) would at least allow for consideration of something other than the downside.

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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