Forex Trading: USD.JPY retesting lows

by Joe Oliver, Forex Trading-Pips

Forex Trading: USD.JPY is once again re-testing the lows made pre Japan intervention at 76.30 . A break of this level could see a large influx of sell orders as sell stops are triggered.

Forex Trading, USD.JPY daily bars, retesting lows

Forex Trading, USD.JPY daily bars, retesting lows

 

 

 

 

 

 

 

USD.JPY broke out of the weekly squeeze 4 weeks ago, momentum to the downside continues to accelerate.

Forex Trading, USD.JPY weekly bars

Forex Trading, USD.JPY weekly bars