USD/JPY – 2014 Low Providing a Floor
Chart Prepared by Jamie Saettele, CMT
-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 105.20) would allow for consideration of something other than the downside.