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USD/JPY First 9 Day Drop Since 2011

USD/JPY First 9 Day Drop Since 2011

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/JPY First 9 Day Drop Since 2011

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-USD/JPY is trading at its lowest level since 11/22 (4 month low). 2017 has been a downtrend as the drop below the February low leaves a series of lower highs and lows. Even so, the current level isn’t a bad one to look for a turn higher. Parallels that relate to the trendline from the Brexit low are being tested. Failure to hold here open up 108.55.

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

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