Analyst
During the Asian trading session the USD had pretty nice rally against the Japanese Yen. During the last several hours, the price of this pair has been drawing a range move, similar to a descending triangle. A break below the support line of 119.90 could signal a pullback for the US dollar, targeting the next local support from 119.55, or even the low from 119.22.
On the other hand a break above the upper line would be a bullish signal, which would tell traders that the greenback is aiming for 120.50.
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