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USDJPY price action remains contained but tech bias is positive
Since January 23, the USDJPY has been in a 339 pips trading range. The prices been above and below the 100 day moving average (blue line in the chart above). It is currently trading below that level at 102.89. On the downside, there has been support along a trendline connecting the lows over the last few months. The price is also not been able to go below the 200 day moving average (green line in the chart above). The USDJPY got a boost this week when BOJ Kuroda said that stimulus would continue until inflation approached 2%. A better tone in the Japanese stock market also helped support the USDJPY. ... (full story)