Price action on USD/JPY (a 4-hour chart of which is shown) as of Thursday (11/11/2010) has broken out tentatively above a key downtrend resistance line extending from the May highs and has approached key resistance around the 83.00 price region, establishing a fresh one-month high. For more technical analysis on this currency pair, please click here for Thursday’s (11/11/2010) Chart of the Day.
James Chen, CTA, CMT
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