Japanese Yen Technical Analysis: USDJPY Uptrend Holds Despite Falls

Japanese Yen Technical Analysis Talking Points:

  • USD/JPY has slipped in the past two weeks, but it remains well above key support
  • If the bears can’t get there, and below, then a return to this year’s highs looks likely
  • AUD/JPY looks a lot more challenged

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The Japanese Yen has made some ground against the US Dollar in the last couple of weeks, but USD/JPY’s dominant uptrend looks safe enough nonetheless.

To be sure the pair has slipped quite sharply from its November highs in the 114.20 region when, back in the middle of the month it seemed at least possible that bulls would build a base there from which to have another tray at this year’s peak. That was the 114.54 reached on October 3.

Fundamentally speaking a new bout of risk aversion and, apparently, increasing doubts about the number of US rate increases that will come next year, have seen the Yen gain. However, technically, USD/JPY remains well above the 111.89 region where

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