Price action on USD/JPY (a daily chart of which is shown) as of Tuesday (4/05/2011) has risen above the key 84.50 price region once again after a slight pullback on Monday. This occurs within the context of more than two weeks of bullishness that followed on the heels of hitting a new all-time low around 76.28 and then G7 intervention. For more technical analysis on this currency pair, please click here for Tuesday’s (4/05/2011) Chart of the Day.
James Chen, CTA, CMT
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