FX_Rhapsody

USDJPY Breakdown Analysis

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Good signs looking like UJ wants to break the monthly consolidation. Still early in the month, but some nice bullish movement. anticipating a retracement but lets see if price carries on upwards before it retraces back to our Fibonacci retracement zones. COT shows both longs and shorts being closed against the Yen, but slightly more shorts, still trading weak.
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