USD/JPY Technical Highlights:
- USD/JPY channel guide in play
- Stay within bias remains higher
- Drop below lower parallel and that changes
USD/JPY rally from the Jan low is being put to the test with USD generally weakening. The channel off the low could hold the key; stay within and the bias remains pointed higher, but break below the lower parallel and the trading bias begins to turn generally negative. Resistance clocks in at 10622, while support below the lower parallel comes in around the 10440 level.
USD/JPY Daily Chart (Channel as a guide)
USD/JPY 4-hr Chart
Resources for Forex Traders
Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.
---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX
