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USD/JPY retreats as stock markets stall
USD/JPY spent much of the past week in a relatively tight consolidation as a lagging US dollar was offset by rising stock markets. Tuesday, however, saw the currency pair drop as both crude oil and major global equity markets stalled and pulled back after their recent winning streaks. During the course of the past month, USD/JPY has plunged to establish a 15-month low around 111.00 support, re-tested that support level to form a potential double-bottom technical pattern, and then fluctuated in a consolidation above those lows. Shortly after that double-bottoming pattern, the currency pair struggled to climb towards ... (full story)