The USDJPY gained ground last week on broad U.S. dollar strength,
however, we can see that it is approaching a key resistance level up
near 99.90 – 100.00 area. This resistance level will be important this
week; if price stays contained below it we could see a move lower,sell
signals forming from this key
resistance for potential short
entries to trade back down toward support. However, if the market
remains buoyant and were to close above 100.00, it would clearly be a
bullish sign and would likely mean more upside movement was in store.
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