Charting FX: could USD/JPY break out?

Japan’s news on inflation last night weakened the yen. USD/JPY is moving back to the top end of a range that has, so far, lasted for more than a month. Cable is back at the $1.517 key support level. A break below could lead to some significant selling. EUR/GBP has been range-bound for the last month. It just reached the top of the range, but this bounce could be short-lived.

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