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USD/JPY December Low is Bears’ Kryponite

USD/JPY December Low is Bears’ Kryponite

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-4 of the last 6 days have seen time below December low (112.87), including 2 closes. Even so, USD/JPY needs to establish above the 114.80s (12/1 high and December FOMC low) in order to suggest that the month long (and YTD) downtrend is no longer.

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

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