Last week was very successful for the US currency, which strengthened against Yen practically during all the sessions of the week. We start the new week interestingly. Today’s session opened with strong increases but already in the morning there was an equally strong withdrawal. Hence the longer upper shadow of today’s candle visible on the daily chart. From important data, in the afternoon we have an industrial ISM reading for the United States. It is expected that the result will be worse than before. It can therefore support the sellers. Looking at the graph, you can see that the course is testing the upper edge of the 1.5-year bearish channel and the important resistance zone again. So this is potentially a good place to pull down.
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