Dollar May have Turned the Corner versus Yen
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Trade Implications – JPY Pairs: A stop and reverse at critical support leaves our Senior Strategist looking higher in the exchange rate, and the fact that this coincides with a potentially pivotal sentiment extreme helps confirm the Dollar bounce. Congestion at ¥102.00 remains clear near-term resistance, while recent multi-month lows near ¥101.25 offer support.
See next currency section:AUDUSD - Australian Dollar May Have Set Important Top
Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.