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Is USD/JPY ready to break into near territory?
In early June 2015, USD/JPY hit a high of 125.86. Just about 1 year later, price had fallen to a low of 98.79! USD/JPY has been oscillating within that range since then, forming lower highs along the way. At the beginning of the pandemic in February and March 2020, USD/JPY tried to push above the downward sloping trendline from the highs but failed each time. That is, until March of this year. In March, USD/JPY finally closed above the trendline. Price pulled back to retest the trendline and the RSI moved from overbought conditions to neutral. Now, USD/JPY appears ready to bust higher above the March highs of 110.97. ... (full story)