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Bullish Exhaustion USDJPY has......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Bullish Exhaustion
USDJPY has struggled ahead of the key 114 level this week, suggesting bullish
exhaustion is setting in. A downside break of the Nov 7 low at 112.95 would open
broken trendline resistance-turned-support at 112.87, ahead of the 100-dma at
112.04. Bulls need to recover 114, targeting a move toward the ytd high at
114.55. Above here confirms the bigger picture bullish trend, opening
option-related resistance at 115.

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