Mix reactions from fundamental data reports for the past few days, affected the Yen weakness nearly isolated from the USD Index technical movement. As such the current market conditions for the DXY has remained in active due to the Thanksgiving holiday and caught in a tight range for now.
USDJPY has maintained its directional trend higher and have initially reached its extended channel price resistance @102.20 as shown on the figure. The gradual yet orderly rally of the USD gaining vs. the Yen can only be seen on a weekly basis. With the daily chart quite steady with minor daily pullbacks in between trading sessions before the actual day bar would be made in a continuing price pattern. and idiosyncrasy behavior of Cable which can only be identified by going beyond charting analysis.
Price Action Analysis: GBP & JPY
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