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Forex technical analysis: USDJPY pushing a little higher in NA trading

Discussion in 'Technical Analysis' started by ForexLive, Jan 25, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Still down on the day The USDJPY has pushed higher off the lows and has made new North American session highs in the last hour of trading. Looking at the daily chart below, the pair bottomed last Wednesday (January 20, 2016) at 115.96 (lowest level since January 16, 2015 - so just over a year) and rallied higher as stocks recovered toward the end of last weeks trading. The move higher in the USDJPY stalled against the 38.2% retracement of the move down from the December 18 high. That level came in at 118.852. The high price on Friday extended to 118.869.

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