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Finally, USD/JPY hesitantly rises today. A bit too cautiously?
USD/JPY has been steadily decreasing in recent days, as the bulls had trouble overcoming the orange resistance zone. The pair has ended its losing streak with today's rise, however. Does it mark the end of its decline, or is there more to come? Let's recall our Wednesday's commentary on this currency pair: (...) USD/JPY recently attempted breakout above both the upper border of the rising green wedge, and the upper border of the orange resistance zone. It has been invalidated, though. The fact is that invalidation of a breakout is a bearish development. Additionally, both the CCI and the Stochastic Oscillator have ... (full story)