USD/JPY marked impressive gains last week moving on up
with 425 pips, which was not seen for almost two years and it seems that we
will witness elevation this weeks as well.
Since the beginning of the year the mood has
turned to downbeat mode for the bulls to reach its lowest level.
Meanwhile bears are creeping to enter short into the pair.
Technically speaking, some important resistance levels
should be taken into consideration. In case of forceful push above, this could
lead prices even higher.
Currently we have an interesting match of 55-day SMA,
200-day SMA and the resistance trend line from the beginning of the year, so
the area from 106.30 to 107.30 deserves attention.
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