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USD/JPY April and May Highs Could Produce a Reaction

USD/JPY April and May Highs Could Produce a Reaction

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I wrote in the last update that “USD/JPY is testing the 200 day average right now…this is the first such occurrence since NIRP (1/29). A trendline comes in near 108.00. Strength through the trendline would indicate a major behavior change.” Major behavior change indeed but be aware of 111.44/88 (May and April highs) as possible resistance.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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