The US dollar has gapped lower to kick off the trading session on Monday against the Japanese yen, but turned around to show signs of strength again as despite the fact that rates are falling in America; the interest rate differential between these two currencies is still very wide, so that boosts the carry trade. We’ve broken above massive swing highs going back to the 1980s, so it’s difficult to imagine this market’s going to turn around on a dime. And ultimately, we’re in a nice 45-degree bullish trend, so by all accounts, the chart looks just as bullish now as it did a few days ago.

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