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USD/JPY Breaks the June Bullish Trend Despite Continued Inflation Lag
It was a week of pullback for USD/JPY, as the Yen caught a bid in the early portion of the week as risk aversion started to show across global markets. This led to rather concerted drops in pairs like GBP/JPY or EUR/JPY shortly after this week’s open; but support caught in each pair early on Tuesday morning and prices put in a bit of recovery as we moved towards the end of the week. In the major pair of USD/JPY, a prior up-trend was nullified by that Sunday/Monday selling, and USD/JPY broke below a bullish trend-channel that had built in the first half of June. After a recovery, resistance came in from the ... (full story)