Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
USD/JPY Coiling at Midpoint of Horizontal Structure

USD/JPY Coiling at Midpoint of Horizontal Structure

Jamie Saettele, CMT, Sr. Technical Strategist

Share:

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Price action since the June low (Brexit) could end up as a triangle before another leg lower unfolds.” Even so, the more important level on the chart is the May low at 105.55. A close above that price would be seen as evidence of a broader structural shift in which case focus would shift towards the 200 day average and July high near 107.50. The Nikkei broke important horizontal resistance today and is just under its trendline. If that breaks, it could take USD/JPY with it.

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.

DISCLOSURES