Advertisement
Australia markets closed

  • ALL ORDS

    8,022.70
    +28.50 (+0.36%)
     

  • ASX 200

    7,749.00
    +27.40 (+0.35%)
     

  • AUD/USD

    0.6604
    -0.0017 (-0.26%)
     

  • OIL

    78.20
    -1.06 (-1.34%)
     

  • GOLD

    2,366.90
    +26.60 (+1.14%)
     

  • Bitcoin AUD

    91,998.16
    -3,677.98 (-3.84%)
     

  • CMC Crypto 200

    1,257.17
    -100.83 (-7.42%)
     

  • AUD/EUR

    0.6128
    -0.0010 (-0.16%)
     

  • AUD/NZD

    1.0963
    -0.0006 (-0.05%)
     

  • NZX 50

    11,755.17
    +8.59 (+0.07%)
     

  • NASDAQ

    18,161.18
    +47.72 (+0.26%)
     

  • FTSE

    8,433.76
    +52.41 (+0.63%)
     

  • Dow Jones

    39,512.84
    +125.08 (+0.32%)
     

  • DAX

    18,772.85
    +86.25 (+0.46%)
     

  • Hang Seng

    18,963.68
    +425.87 (+2.30%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

USD/JPY Near Term Levels Playing Out with Precision

Jamie Saettele, CMT

DailyFX.com -

Daily

USD/JPY Near Term Levels Playing Out with Precision
USD/JPY Near Term Levels Playing Out with Precision

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“114.80-115.10 should be watched for resistance”. USD/JPY topped in the zone on Wednesday (55 day average there too). From here, I’d watch for a higher low (above 111.58) to form as per prior comments regarding RSI. “The turn higher is viewed as sustainable for several reasons. First, price turned up from a well-defined price level. Second, daily RSI turned up from near 40, which is consistent with either bullish resumption of the bottom of a range. In contrast, bear market rallies turn up from deeply oversold conditions and are quickly retraced.”

ADVERTISEMENT


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 IG.