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USD/JPY Breaks Above Channel Resistance; Trades at May High

posted by Avatar FXTimes 372 days ago in USD, JPY, Technical made popular 372 days ago

USD/JPY indeed bottomed out in the short-term and broke above a declining channel resistance. The 1H chart shows the bottoming formation. There is resistance in the 80.50-80.60 area. This is the May high established in the beginning of the month. Above this pivot, some resistance can be expected near 81.00, and then again at 81.78...
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