The Japanese Yen looks set for another leg of losses. In October the USD/JPY closed higher by 74 pips, a relatively small amount. But this doesn't tell the whole story. As we can see on the chart below the pair keeps pushing on the resistance area between the 121 round figure and the August high at 121.73.
With each new test the odds increase that we will eventually see a breakout higher. But where can that take us? Looking at the longer-term charts our target should be near this year's high at …
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