Despite USDJPY clearly respecting a Bearish Trend since the 25th of March, it is approaching the 2020 low created on the 9th of march at 101.18. If this zone is successfully rejected this could create a longer timeframe Double bottom, which is regarded as a strong Bullish pattern. Furthermore, the U.S. Dollar is unlikely to lose its Reserve Currency Status and as rates eventually increase the US dollar should face upward bullish pressure.
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