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USDJPY retains bullish outlook
USDJPY inched slightly lower to retest Friday’s constraints in the four-hour chart after stretching its gains moderately up to 145.66 – the highest in almost three weeks. Previously, the pair closed marginally above an ascending triangle, raising confidence that the bullish trend could see further continuation. That could preserve the buying the dip mentality in the near term. Besides, with the MACD and the RSI maintaining a positive trajectory within the bullish area, and the 20-day simple moving average (SMA) avoiding a bearish intersection with the 50-day SMA, upside movements are more likely than negative ... (full story)