USD/JPY Turns Up Where it Should
Chart Prepared by Jamie Saettele, CMT
-“2017 has been a downtrend for USD/JPY 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.” USD/JPY has turned up. A close over February closing lows at 111.62 and 111.92 would increase confidence that a decent low is in place.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.