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USD/JPY at a Measured Level (108.43) but No Sign of a Pause

USD/JPY at a Measured Level (108.43) but No Sign of a Pause

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-USD/JPY is testing an important price in 108.55 (channel and 200 day average). If that level gives however then the cross may be in for a run at the post-election gap at 106.60. “USD/JPY ended up rolling over between 111.60 and 112.60 (high was 112.20). The rally failing in the middle of congestion doesn’t bode well for upside.”

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

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