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USD/JPY Rallies Within Declining Channel

posted by Avatar FXTimes 382 days ago in USD, JPY, Technical made popular 382 days ago

The USD/JPY held above a key support zone between 79.50 and 79.70. The daily chart shows the significance of this zone going back to May 2011. We are also trading in a declining channel, so the bullish outlook from this zone should first be limited in consideration of the prevailing downtrend. But if the current extends beyond the channel...
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