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USD/JPY – Trend Changes to Up on Strong U.S. Economic Data
The Dollar/Yen is trading higher on Friday on the back of strong U.S. labor and inflation data that dampened concerns about the world’s largest economy possibly slipping into recession later in the year. The news strengthened U.S. Treasury yields which helped widen the spread between U.S. Government bond yields and Japanese government bond yields, making the U.S. Dollar a more attractive investment. At 03:22 GMT, the USD/JPY is trading 111.734, up 0.072 or +0.06%. Daily Technical Analysis The main trend is up according to the daily swing chart. The trend turned up earlier in the session when buyers took out the ... (full story)
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