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USD/JPY Support Does its Job; Watch 115.00 Near Term

USD/JPY Support Does its Job; Watch 115.00 Near Term

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“I’m still watching for a higher low (above 111.58) in USD/JPY as per the comments regarding RSI (daily holding 40).” USD/JPY has turned up and 115.00ish represents a good test for strength. The level is defined by the 55 day average and former highs/lows since early January. If price can clear 115.00 then focus would shift towards the trendline near 118.00.

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

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