USD/JPY is pressured by a wave of dollar weakness that has come out of left field this afternoon, fueled by a surprisingly large short-covering rally in cable. Trendline resistance broken on the daily charts last week during USD/JPY’s big rally on Friday is now being tested from the topside at 98.18.. Look for stops in the 98.10 area if that support gives way.
USD/JPY easing toward trendline support
Source: www.forexlive.com
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