USDJPY: Standstill Continues Above 0.76
USDJPY positioning has been little changed since early August, with prices locked in a narrow range between 76.11 and 77.64. A bullish Long White Candle shot higher to test resistance the top of a long-standing falling channel in place since early April, but we see no actionable trade setup until a firm breakout actually materializes and will remain on the sidelines for the time being.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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