USD/JPY Bounce or Bottom?
Markets

USD/JPY Bounce or Bottom?

DailyFX.com -

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to recent USD/JPY comments. "USD/JPY has broken down from a running triangle. The objective is 107.06 but be aware of reversal warning signs, including divergence with gold (not at a new high), and divergence with the Nikkei 225 (not at a new low)." USD/JPY has turned up following the divergence warning with related markets. Watch for resistance from the underside of former triangle support (running triangle) near 110.

For more analysis and trade setups (exact entry and exit) , visit SB Trade Desk

original source

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

Learn forex trading with a free practice account and trading charts from FXCM .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx

Latest Markets Videos