USDJPY runs into swing area and backs off


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Swing area at 108.03-077 stalls the rally

The USDJPY took a final run to the upside, but ran into overhead resistance at the 108.036-077 area (see yellow area — red numbered circles).  The sellers have pushed the price back toward the swing high from last week at 107.72-763. That high was joined by a swing high going back to April 24th before the run back lower (at that time).  

The buyers and sellers have positioned between levels as Mnuchin and Powell start their testimony.  Look for a shove.  
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