USD/JPY Technical Analysis for April 28, 2011

The USD/JPY gained massively today, as the markets took off around the world. It should be noted that this pair is the weakest of all of the XXX/JPY pairs, as the USD is so weak at the moment. Today’s Federal Reserve news conference did nothing to bolster the idea of a strong dollar, and that will weigh on the USD against all pairs, this one included. However, it will still be in a bull mode, and could be the beginning of a long run north.

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