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USD/JPY Breaks Down Rising Channel

USD/JPY (4-hour chart) as of Monday (7/11/2011) has broken down decisively below a rising channel that extends back to the early June low. This breakdown occurs after the bottom border of the channel was respected at the very end of last week. For more USD/JPY forex technical analysis, please click here.

James Chen, CTA, CMT
Director of Technical Research and Education