Japanese Yen Technical Analysis: Charts Suggest USD Winning, Just

Japanese Yen Technical Analysis Talking Points:

  • USD/JPY’s main daily chart uptrend channel is still with us
  • However its upside has not been tested for months and the base is very close to market
  • EUR/JPY could add to the drag

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The Japanese Yen has kept the US Dollar well below its recent 2018 peaks, but a well-respected USD/JPY uptrend is hanging on, albeit barely.

Hanging On. US Dollar Vs Japanese Yen, Daily Chart

At present the broad upward channel that has contained all USD/JPY trade since the lows of late March continues to hold sway, but Dollar bulls cannot be entirely comfortable with the fact that its top has not been tested since mid-July. Still, they have managed to defend the channel base quite doggedly, with the most recent attempt having failed on Monday of this week.

It was a close-run thing, though, and the uncommitted may wish to wait on this week’s close to see if the trend can

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