USD/JPY
USDJPY
rose during the course of the day on Monday, clearing the hammer that
had formed on Friday. This is a very bullish sign, but keep in mind
that this is a market that has been in a very negative down-trend for
some time now. However, any time you get a sell-off like we have
seen, you generally get some type of push-back sooner or later. At
this point though, it appears that the buyers are starting to make a
bit of a statement, and we should more than likely reach towards the
110 level.
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