Price action on USD/JPY, a daily chart of which is shown, has taken a decidedly bearish turn after having reached and respected last week the top border of a key parallel downtrend channel extending from the April high. The high that was reached on last week’s turn was just above the 92.00 price region. In the process of making this bearish turn within the context of the overall downtrend, price action has made a tentative breakdown below a short-term uptrend line extending from the early February low. For more technical analysis on this currency pair,
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