Japanese Yen Attempting Break from Tight Range
Prepared by Jamie Saettele, CMT
A USDJPY rally above 7733 remains possible in a larger correction but weakness under 7662 would certainly demand respect as the all time low at 7557 is not far off. In the event of a turn higher, watch the 20 day average for resistance. It is worth noting that speculative longs are at a level consistent with recent interventions.
Bottom Line - flat
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