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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

2017-03-02 21:20:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/JPY Support Does its Job; Watch 115.00 Near Term

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.

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