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USDJPY Key Trendline Resistance - Risk...>

DOLLAR-YEN
DOLLAR-YEN: USDJPY Key Trendline Resistance
- Risk appetite has improved following the recent wave of positive US-China
trade headlines ahead of this weekend's G20 summit.
- USDJPY technicals are starting to generate positive signals following the
brief move above 108.00.
- Key trendline resistance drawn off the Apr 24 high comes in today at 108.33, a
close above would confirm a bullish reversal.
- Expect resistance through 108.70/80 from a series of previous highs, above
here opens the 38.2% retracement level of the Apr-Jun fall at 108.93.
- Risk factor - Early bank models are suggesting month-end related USD sales
which could counter.
https://emedia.marketnews.com/marketnewsintl/USDJPY_Trendline_Resistance.png

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