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USD/JPY Stuck in Slo-Mo Near the Low

USD/JPY Stuck in Slo-Mo Near the Low

2016-08-25 21:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/JPY Stuck in Slo-Mo Near the Low

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. Since July, a head and shoulders continuation pattern has developed which could send USD/JPY to 92.50. This pattern is valid while price is below 102.66. Strength above 102.66 would trigger a failed pattern and bullish signal.

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

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