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Yen Trying to Bottom?

Yen Trying to Bottom?

Jamie Saettele, CMT, Sr. Technical Strategist

June’s USDJPY trade produced a monthly key reversal. The rate has snapped back but a break above the long term resistance confluence (uptrend resistance and the line from the 1995 and 2005 highs) is still needed in order to minimize downside risk. For more, visit SB Trade Desk.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.