Daily Charts ONLY: The USDJPY's broad view shows support

Discussion in 'Technical Analysis' started by ForexLive, Aug 15, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    The 100.48-71 eyed If you take a broad view on the daily chart for the USDJPY there are some key levels of importance in the 100.487-100.71. Looking all the way back to September 2013, there have been a series of highs and lows in that area. There have been 6 tests of the area with two tests this month. In June and July, there were three days where the price moved below, but the lowest close in 2016 was 100.487 on July 8th. On Friday the low traded to 100.82. Today's low reached 100.86 The August low from August 2 was 100.67. The 100.71 level is also the 50% of the longer term move up from the October 31, 2011 low (that was a key swing low level). Lots of support between 100.487 and 100.71.

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