• The US dollar turned around against the Japanese yen on Tuesday as we had broken below the ¥132.50 level.
  • The ¥132.50 level is an area that has previously been resistant and supported, so a certain amount of market memory comes into the picture.
  • The fact that we have turned around so violently is a good sign, and I think we are going to continue to see the uptrend respected, as long as we don’t get some type of major selloff in the US dollar overall.

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