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USD/JPY Weakness Prevails Despite Strong US Data
Technical Sentiment: Slightly-bearish Key Takeaways •USD/JPY formed a Bearish Engulfing Bar following a brief touch of 110.00; •U.S. Unemployment Claims came out at 287K, failing to lift the Dollar higher in intraday trading; •Price action offers several bearish signals, although they require further confirmation. During Asian trading the US Dollar dropped against a basket of currencies, when sellers managed to temporarily shake buyers out of the market. Although USD stayed strong during European trading, a deeper correction might be in play for USD/JPY. Technical Analysis USD/JPY priced in fewer rallies during ... (full story)