The USD/JPY is falling on Thursday for the second day in a row despite risk appetite. US Dollar bottomed at 78.30, the lowest level in 4−months, and currently is moving slowly off session lows, attempting to recover ground above 78.50. The pair is on its way to the lowest daily close on record.
The upside remains capped by a strong resistance level around 79.30 (July 15, 19, 20 highs). To the downside the pair continues to reach lower lows signaling a continuation of a long-term downtrend. Today Greenback approached record lows that lie at 76.40 (March 16).
The upside remains capped by a strong resistance level around 79.30 (July 15, 19, 20 highs). To the downside the pair continues to reach lower lows signaling a continuation of a long-term downtrend. Today Greenback approached record lows that lie at 76.40 (March 16).
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