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USD/JPY Trendline Ping Pong after BoJ and FOMC

USD/JPY Trendline Ping Pong after BoJ and FOMC

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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.”

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.