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USDJPY to Resume Uptrend Following Breakout?
The USDJPY is on the move again. After months of consolidating, the risk-sensitive pair ripped 250 pips higher this week. Most of those gains occurred on Wednesday when the pair closed higher by 150 pips, clearing that May 6, 2019 gap at 111.10. I wrote about this level several weeks ago. It’s no coincidence that Thursday’s session carved a low of 111.11 before rocketing higher by another 100+ pips. But instead of talking about trivial details, I want to take a step back today and look at the bigger picture. I also have no interest in discussing why the Japanese yen did what it did. The price action is all that ... (full story)
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