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USD/JPY – Watch 111.45/88 (Former Resistance)

USD/JPY – Watch 111.45/88 (Former Resistance)

Jamie Saettele, CMT, Sr. Technical Strategist


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 continues to trade heavy but has not broken down ‘decisively’. If it does, be aware of 111.45/88 (May 2016 high) as a level.

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