USD/JPY First 9 Day Drop Since 2011
Chart Prepared by Jamie Saettele, CMT
-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.
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