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4 reasons USD/JPY could keep rallying through its 4-year highs
So far today, the Japanese yen is the strongest of the major currencies, but zooming out a bit, it’s actually the weakest major currency over the last month, losing more than 4% of its value against the US dollar. In fact, USD/JPY tested its highest level in more than 4.5 years near 114.70 yesterday, marking a 550+ pip rally in the pair less than a month. While this widely-watched resistance level certainly marks a logical area for bulls to take profits after a big rally, there are (at least) four reasons that USD/JPY could continue to rally through resistance to new highs: 1) Auto exports are still restrained Due ... (full story)
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