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USD/JPY Breaks Through Trendline Resistance

USD/JPY Breaks Through Trendline Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Breaks Through Trendline Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-USD/JPY has broken through trendline resistance therefore focus is on a 105 handle as per the triangle interpretation. “Price action since the June low (Brexit) could end up as a triangle before another leg lower unfolds. Price found support on 9/7 at the top side of a parallel (former resistance providing support). Strength above the May-July trendline (102.20) is needed in order to suggest that USD/JPY has legs for 104.00-105.00.”

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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