Price action on USD/JPY (a daily chart of which is shown) as of Wednesday (2/16/2011) has continued its rise after breaking out above a clear triangle consolidation stemming from the early November long-term low, and then subsequently breaking out above the 83.00 resistance level. For more technical analysis on this currency pair, please click here for Wednesday’s (2/16/2011) Chart of the Day.
James Chen, CTA, CMT
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