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Thomas Long, Course Instructor

This daily chart shows that this pair is less than 100 pips from a new 15-year low. In addition, this morning’s SSI reading was +6.13, which means to look for more selling pressure. This adds up to a strong downtrend and to continue to look for selling opportunities. I would maintain a bearish bias as long as the pair remains below the 85.897 high noted on the chart.

USDJPY_body_66089d1283431813-trend-day-usdjpy-92.png, USD/JPY

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