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USD/JPY Slingshots off of 55 Day Average

USD/JPY Slingshots off of 55 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“USD/JPY has reached the 55 day average. Even so, there is no suggestion from price that the drop is complete. Strength through 116.00 is needed in order to relieve downside pressure.” No suggestion turned into a 300 pip surge. Intraday action is volatile but the same levels remain important from a trend perspective. That is, USD/JPY is vulnerable sub-116.00.

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