Technical Analysis – USDJPY trapped in multi-month range; short-term bullish phase ended at 114

USDJPY has been neutral during the past 7 months, with the market trading in a broad range between roughly 108 and 114 since mid-March. The recent rally off 108 to 114 has lost steam. Technical indicators are in bullish territory (RSI above 50 and MACD above zero) and suggest the market should be well supported […]