Technical Analysis

USD/JPY higher for third day, breaks technical resistance level

USD/JPY up 25 pips

Is it month end or something more?

USD/JPY is up for the third day, climbing a steady 25 pips to 113.38. The 61.8% retracement of the October decline was at 113.34 so a close above is a positive step. It’s not the cleanest line because of the messy bottom. If you want to draw it from the mid-October low, it’s at 113.43, which is still about 10 pips away.

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