USD/JPY Classical 04.01
USD/JPY: The market has recovered a great deal since basing out by fresh record lows at 76.30 several days back, with the price now back in the very well defined range that had dominated trade for much of the previous weeks. The key levels to watch above and below come in by 84.50 and 79.75 respectively, and look for a sustained break on wither side to provide additional clarity and insight into directional bias. In there interim, we recommend taking to the sidelines.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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