USD/JPY Back Below 200 DMA

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com -

Daily

USD/JPY Back Below 200 DMA

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“Range conditions are firmly entrenched between 101.35 and 103.25.”

-“USDJPY has rebounded from 101.35 to reach trendline resistance. The larger range bias remains but the June high at 102.79 is important because the rate hasn’t broken an important high since April.” USDJPY has turned down sharply from trendline resistance and is back below the 200 DMA. Focus is on the YTD low at 100.75. Above 102.26 would negate.

LEVELS: 100.43 100.74 101.35 | 101.73 101.95 102.18

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Forecast: Dollar Faces NFPs, Euro Anticipating Greece and Risk Languishes

  2. Forex News

    USD/JPY Holds 118.20 Support Ahead of Fed Rhetoric, NFP Report

  3. Forex News

    USD/JPY: Remains at risk of easing - TDS

  4. Forex News

    USD/JPY sold at 119.25; back to 119.00

  5. Forex News

    USD/JPY drops below 119.00

Trading Center