USD/JPY – Pay Attention to the 20 Day Average
Chart Prepared by Jamie Saettele, CMT
-“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. Near term, watch the 200 day average for a reaction / indication that the path is still higher.
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