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USD/JPY December Low to December FOMC Low

USD/JPY December Low to December FOMC Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“4 of the last 6 days have seen time below December low (112.87), including 2 closes. Even so, USD/JPY needs to establish above the 114.80s (12/1 high and December FOMC low) in order to suggest that the month long (and YTD) downtrend is no longer.” USD/JPY actually traded into 114.85 today before pausing. Bigger picture, the December low is a good spot for a base but there’s also a good trendline over price. In other words, range might be the name of the game for a while.

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

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