- USD/JPY is in a wierd place. It is under a powerful uptrend however could but maintain on
- Much might rely upon this week’s shut
- Meanwhile, AUD/JPY seems to be extra precarious. Bulls should defend mid-April’s low
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The Japanese Yen is in an odd spot towards the US Dollar technically talking.
A quite-impressive uptrend from April 19 was damaged on May 12 -an uptrend which included a run of eight straight greater closes. And if bulls have the resolve to get that rise again on monitor they’ve stored it properly hidden to date.
However, the bears aren’t displaying a lot perception both. That uptrend break was nailed down by simply two robust, consecutive day by day falls, on May 16 and 17. Since then the pair has accomplished nothing a lot of something, having spent the final week in a really tight vary certainly.
So, what does come subsequent? Well, present worth motion takes the
Article supply: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2017/05/26/Technical-Analysis-Japanese-Yen-Still-Waiting-For-A-Break.html?DFXfeeds=forex:technical:article:fx_technical_weekly
SOURCE: Daily Forex Signals – Read complete story here.