USD/JPY Short Term Breakdown Obective is Near 107
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USD/JPY Short Term Breakdown Obective is Near 107

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent USD/JPY comments remarked that "like gold, price action since 2/11 may end up as a triangle before a thrust in the direction of the broader trend (in this case down)." 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).

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

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