After descending back down to a significant downtrend line from which it broke in the very beginning of the year, USD/JPY (a daily chart of which is shown) has just made a pronounced pullback bounce off the trendline in a classic case of resistance becoming support. Oscillators like the displayed Stochastics are showing a turn-up of momentum from extremely oversold. As of early Friday morning in New York, price is just under the key 91.00 support/resistance level. If price subsequently makes a strong break above this level, major resistance to the upside resides around the 93.50 region.
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