â€œUSD/JPY broke above its Fibo resistance level at 81.50 and the lack of any pullback at all will have the bulls feeling very comfortable,â€ says Sean Lee, founder of FXWW. â€œThe long term charts look to be forming a springboard for a move higher and my initial target is the 200-week MA, currently at 85.20, which was last breached 5 years ago.â€
Japanese October Merchandise Trade Balance figures are on offer today. There is an expectation of a shift in the trade balance, from surplus to deficit.
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