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Japanese Yen Technical Analysis: Is the Yen Nearing Another Breakdown in USD/JPY?
Japanese Yen sellers are back on the prowl as the currency has started to sink again on the Q2 open. As looked at a week ago, those aggressive trends of Yen weakness had finally started to pull back, helped along by a major currency pair that ran into a significant area of long-term resistance. The pullback lasted but a few days and came-in right at the end of Q1. I had written on the topic just after USD/JPY had bottomed, highlighting two key areas of support/resistance in the pair that had already started to come into play. A price swing at 121.41 helped to cauterize the low, and another swing at 122.41 served as ... (full story)