Here is what I think of this pair, given that its extreme sensitivity to news. The Yen gains strength in times of risk aversion as its a safe haven currency. As shown from the chart above, the USDJPY is about to break its weakly resistance and turn bullish after long weeks for grinding down movement. If the trendline is taken out the yen goes higher then theres even more reason to remain bullish, but if it doesn't then thats not good news for the bulls as its a sign the bears are still in the game.
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