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USD/JPY Hits First Decent Spot for 2017 Support

USD/JPY Hits First Decent Spot for 2017 Support

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent updates have noted that “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.” The mentioned zone has been reached and USD/JPY is responding (traded 100 pips off of the Asian low on Tuesday before backing off). I’m looking for the rate to base.

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