USD/JPY: The trendline falls at 105.84 today [Video]

Richard Perry Independent Analyst

USD/JPY

We continue to see near term rallies on Dollar/Yen within the near four month downtrend as a chance to sell. The trendline falls at 105.84 today. Yesterday’s intraday failure at 105.75 and continued downside today simply adds to the sense that the pair is moving towards a test of 104.90. It comes with the struggling momentum improvement also now falling over and we look to use intraday strength as a chance to sell. The hourly chart shows initial resistance 105.40/105.60 is a near term sell zone now.

Author

Richard Perry

Independent Analyst

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