USD/JPY Technical Analysis: Black Monday Close As Key Support before Breakdown
15 September 2015, 20:47
0
984
UDJPY is drifting lower into the bottom of its triangulating range toward the 119/118.50area. Prices are working on their 15ths consecutive trading day between the range that that was cemented on Black Monday of August 24th with a gapped open of 122.02 though the close of that same day of 118.40. On a weekly chart, this provides us a double-inside bar, currently triple-inside but not expected to hold, that favors a strong coil releasing move when the range is broken with a weekly close either above 122.02 or below 118.40
