Bullish price action in the last few trading days on USD/JPY rebounded off the bottom border of a parallel downtrend channel, and has just reached major resistance in the 94.00 price region as of Wednesday (7/15/2009). This is a key support/resistance level, as it has served alternately as strong resistance and strong support since the beginning of the year. For more technical analysis on this currency pair, please click here for Wednesday’s (7/15/2009) Chart of the Day.
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