COVER

At the Sunday open the USDJPY is at Triple Bottom Support at 110.982.

USDJPYDaily Triple Bottom

Below is the Daily Fibonacci Study that helped form this Triple Bottom Support at the +61.8 Fibonacci Extension Level….

1 USDJPY DAILY FIBONACCI2 USDJPYDaily FIBONACCI ZOOM

There is also historical weekly support from a previous high (seen below) within range of 110.982USDJPYWeekly SR

If your a bull, a conservative profit target is the Daily 5 EMA at 111.993 which is plotted here on a 15 Min chart to give perspective of range from price…

USDJPY DAILY 5 IN M15

Psychological levels tend to be important support and resistance on the USDJPY; the psychological and mid-point psychological levels for the USDJPY are in purple below for your review…

USDJPYH1 PSYCH

If this Triple Bottom Support breaks, we could see bearish continuation in the overall USDJPY trend.

Remember that when significant support breaks, price tends to pullback and test it as resistance before picking up bearish momentum.

Regards,

Tyler Lund

US DOLLAR ANALYST, FOREX.TODAY

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6 thoughts on “USDJPY TRIPLE BOTTOM (March 20th)”

  1. Wayne McDonell - TradersWay.com says:
    March 21, 2016 at 7:42 am

    Great post. Thank you very much for your hard work.

  2. Tyler Lund says:
    March 21, 2016 at 10:16 am

    Thanks Wayne.

  3. Charles Bidner says:
    March 21, 2016 at 8:01 pm

    Really enjoying your stuff Tyler, please keep up the excellent work, it is greatly appreciated. I am currently waiting on the arrival of the book you recommended on an earlier post, on Strategy published by Harvard press.

  4. Tyler Lund says:
    March 21, 2016 at 10:28 pm

    Thanks Charles,
    It is very nice to hear that the effort is appreciated and helpful.
    I am in the process of writing an article that breaks Harvard’s Strategic Process down into a Reader’s Digest Version for traders. I have an uncle that has a Harvard MBA and is a CEO that has helped teach me Harvard’s Strategy Creation Model. So, keep your eyes out for that upcoming article.

  5. Charles Bidner says:
    March 24, 2016 at 12:41 am

    Hello again Tyler, not too late for a further comment here I hope, I mentioned I was waiting for the Strategy book to arrive however it looks like there was a stuff up on the collection so it wont be arriving after all. So I will be watching closely for the upcoming article. Very much looking forward to it. Kind Regards

    1. Tyler Lund says:
      March 30, 2016 at 7:21 pm

      Charles,
      You can find the book online. Here is a link:

      http://www.amazon.com/Strategy-Create-Implement-Best-Business/dp/1591396328

      If the link doesn’t work, then google Strategy Harvard Business Essentials

      I will publish the article as well…

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