USD/JPY Trendline Ping Pong after BoJ and FOMC
Chart Prepared by Jamie Saettele, CMT
-There is no change to USD/JPY comments after BoJ as the rate continues to respect slope lines derived from the May-July trendline. “USD/JPY action of late is ‘sneaky bullish’. Price found support on 9/7 at the top side of a parallel (former resistance providing support). Strength above the May-July trendline is still needed to suggest that USD/JPY is a bull.”
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.