USD/JPY Chooses Bearish Path

Discussion in 'Technical Analysis' started by Kaitlin, Feb 3, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    Despite the support from the technical indicators the latest rally from 116.50 yen proved to be unable to extend beyond the 200-day SMA, meaning the outlook remains bearish. Even if USD/JPY breached 121.50, there would still be a major down-trend at 123. Accordingly, while there might be a small recovery[​IMG]

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