Medium-Term Outlook For Dollar/Yen Suggests A Move Upwards To ¥100
TECHNICAL ANALYSIS
Matthew Clements sees an upsurge for the Japanese currency over the next few months
A look at the medium- and long- term technical charts for dollar/yen signals renewed strength for the yen in the months ahead. This comes after a six month period of consolidation during which it has traded in an approximate range between ¥105 and ¥109.
July 1999 saw the continuation of a long-term dollar retracement from ¥122 that began after the yen touched an eight-year low of ¥145 in July 1998. The downtrend
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