A decline of the Japanese yen to 89.00 is possible short-term against the US dollar. The Japanese yen is leaning against the higher Bollinger bands. There is a divergence between the price and the RSI indicator on the daily and weekly charts. Accordingly to the Commitment of Trader report (COT), then, futures funds have accumulated almost 120,000 contracts of USD/JPY. It represents the highest level in more than five years.
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