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JPY Struggles at Trendline
This Great Graphic is a weekly bar chart of the dollar-yen exchange rate. It shows a three-year downtrend line (white line). The US dollar had popped above it last month, but this proved premature and has not closed about it for a month. The trendline is found near JPY111.55 now. Connecting the 2016 dollar lows and the low from late March this year is a red line. It is found near JPY105.60. Together both lines mark a large triangle pattern dollar-yen exchange rate tracing out a large triangle pattern. The pattern is susceptible to false breaks like the one seen last month. The triangle is often seen as a continuation ... (full story)