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Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
Real Time Positioning
-'2017 has been a downtrend for USD/JPY as the drop below the February low leaves a series of lower highs and lows. Even so, the current level isn't a bad one to look for a turn higher. Parallels that relate to the trendline from the Brexit low are being tested. Failure to hold here open up 108.55. USD/JPY has turned up. A close over February closing lows at 111.62 and 111.92 would increase confidence that a decent low is in place.
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