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Last week’s quite sharp decline in USD/JPY took the exchange rate to the long-term support line, which was strong enough to stop the sellers three times in a row in October. Unfortunately (for the bulls) the beginning of this week brought a breakdown below it. What, then, can we expect in the coming days?

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Last week's increase above the October peak was a punch to the currency bears’ pro-declining plans. Despite the positive pronouncement of the last Monday's session, the buyers didn’t defend themselves at higher levels, which resulted in a strong drop during Friday’s session. Earlier today, currency bears showed their claws once again. What came out of it?

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Although currency bulls pushed the U.S. dollar against the yen to the highest levels since the beginning of October, the major resistance zone managed to stop them for the fifth time in a row, triggering a correction. What are the consequences of this price action?

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In recent days, currency bulls pushed the greenback higher against its Canadian counterpart, which resulted in a breakout above the September peak. Thanks to this increase, USD/CAD climbed to the resistance area reinforced by the long-term resistance line. Is it enough to stop further improvement in the following days?

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