FX & CFD trading involves significant risk
USD/JPY bottomed around Y81.60-65 last week, before closing Friday around Y81.84. Monday's push above Y82 (at Y82.05 currently) is being viewed as mildly bullish for the pair, but traders would like to see dollar-yen take out the April 21 peak at Y82.57 before there is a shot at retesting last week's highs of Y83.10 and Y83.26 (200-day moving average at Y83.24). The pair stalled earlier at its 55-day moving average, which comes in Monday at Y82.51. The 100-day, which comes in at Y82.63, is likely to offer resistance also.
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