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USDJPY Breakout Tests 100
The USDJPY has continued to find support above the breakout of the triangle pattern and well above the 99.00 - 99.20 breakout area. The next target is the major psychological level at 100.00 which - for now - eludes the bulls as support despite the wick left at 100.14, therefore is 100.00 still near-term resistance? The fact that the Dow has hit yet another all-time high, bodes well for more yen weakness. The daily chart of the Dow (futures) has pierced 15,800 and has a “twelve to two o’clock” uptrend. A pullback to 15,550 is likely to be supported near the major psychological level as well as the 20DMA ... (full story)