Chart of the Day: USD/JPY’s Bounce Stalls
USD/JPY
+1.16%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
The USDJPY bounce stalled at the 38% retracement today at 140.25 which could be the top of the bear flag pattern. Also, the 50dma is also near the highs today as well. A move back below 139.00 would suggest that the pair will revisit the 200dma and possibly lower.
Also, to note, the Bank of Japan meeting is next week and there is speculation of a possible change in Yield Curve Control (YCC) on the horizon which could strengthen the JPY.
USD/JPY Daily Chart
