The USD/JPY pair has broken above the 84.50 area, which has served as resistance for quite some time. Because of this, selling is probably not going to be advised for quite some time. Also, a trend change might be considered as well – as there are 5 central banks currently supporting this pair. With the US talking about possible tightening of monetary policy by the end of the year – we might be looking at the carry trade eventually.
Originally posted here
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