Technical Analysis – USDJPY Monthly: fresh 5-year highs as dollar move looks stretched
Posted on December 19, 2013 at 10:03 am GMT[caption id="attachment_12167" align="alignnone" width="550"] (Click to enlarge)[/caption] On the back of the Fed decision, the US dollar broke to a fresh 5-year high versus the yen, having traded at a level of 104.35. This is the highest for the US dollar since October of 2008. In order to derive some guidance for possible future targets should the dollar uptrend continue, the long-term monthly chart can offer some clues. The first target could be the high that was registered during August [..]