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USD/JPY Erases Half of Rally from August Low

USD/JPY Erases Half of Rally from August Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY Erases Half of Rally from August Low

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to recent USD/JPY comments. “Price action since the June low (Brexit) could end up as a triangle before another leg lower unfolds….a horizontal level on the chart to pay attention to is the May low at 105.55.” High for the move thus far is 105.53 which keeps the triangle idea intact. In other words…lower from here (allowing for corrective upside).

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