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USD/JPY Triangle Break

USD/JPY (a daily chart of which is shown) as of Thursday (2/10/2011) has tentatively broken out above a triangle consolidation pattern that has been in place since the 80.20 long-term low extreme hit in early November 2010. This break to the upside has hit and tentatively surpassed key resistance around 83.00. For more USD/JPY forex technical analysis, please click here.

James Chen, CTA, CMT