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AUD/USD, USD/JPY, USD/CNH analysis: Asian Open – 29/08/2023
I want to highlight the significance of the current levels that USD/JPY has stalled at. Whether that creates a tradeable opportunity is perhaps another conversation, but it could at least help explain why the market is hesitant to simply break higher. Yesterday’s small-ranged candle (due to lower trading activity) is meandering around the 146.59 high, which was set on November 10 due to a soft US CPI report and subsequent plunge on USD/JPY (and the US dollar in general). USD/JPY also perfectly respected that November 10 high on August 23, so it is clearly a level traders are closely watching. And even if USD/JPY ... (full story)