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USD/JPY – Crash and Burn or about to Turn?

USD/JPY – Crash and Burn or about to Turn?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY – Crash and Burn or about to Turn?

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 but is currently near 105.70) 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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