Our outlook for the US Dollar/Japanese Yen pair likewise remains unchanged from yesterday, as the duo have effectively remained unchanged. “The US Dollar/Japanese Yen may continue to bounce from recent multi-year lows, as the pair has hit the bottom of its multi-year trend channel and quickly reversed.The lows likewise coincide with heavily oversold weekly oscillators, and a return to more normal market conditions would favor further US Dollar recovery. Multi-year spike lows at 87.14 should serve as a base, while next resistance is seen at the top of its short-term downtrend near 93.00.”
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