Technical Analysis DayTradeIdeas
Technical Analysis DayTradeIdeas
31 July
Video analysis:
Japan intervened in the foreign exchange market by selling USD and buying yen after the exchange rate fell to its lowest level in nearly 40 years, surpassing 163 JPY/USD.
USDJPY collapsed a full 600 pips, as far as 158.00 yesterday but has since recovered 50% of the loss.
Important Fibonacci & 200 day moving average support at 158.30/157.70 is now key to direction.
A break below here risks another 300 pip drop towards 154.80.
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Daily Technical Analysis is provided by Jason Sen of Day Trade Ideas, who has been day trading since the late 1980’s. Jason has been a contributor of Traders Summit since the beginning. He primarily focuses on providing technical analysis of the financial markets, including stock chart patterns, Forex and Metals setups, and other useful technical analysis.
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Jason Sen, Director
https://www.daytradeideas.co.uk
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