USD/JPY December Low is Bears’ Kryponite
Chart Prepared by Jamie Saettele, CMT
-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.
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