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USDJPY ACCELERATING BULLISH TREND. The...>

DOLLAR-YEN
DOLLAR-YEN: USDJPY ACCELERATING BULLISH TREND. The USDJPY break above the 107.50
level this morning has triggered further bullish technical signals, with
near-term trend and momentum indicators pointing towards further gains. The next
target is the upper end of the ascending channel currently intervening at the
108.00 level. This also coincides with the 38.2% retracement level of the
decline seen since the beginning of the year, making 108.00 a crucial medium
term pivotal point. USDJPY gains continue to be supported by strengthening
medium term momentum signals. Holding above 107.06 maintains the current bullish
picture.

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