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USD/JPY is Riding the 20 Day Average

USD/JPY is Riding the 20 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last note remarked that “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.” USD/JPY cut under the early month lows today (on the last day of the month) but has not broken down ‘decisively’. If it does, be aware of 111.45 (May 2016 high) as a level.

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

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