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USD/JPY Forecast – US Dollar Continues to Stabilize

From fxempire.com

{video} The US dollar has plunged initially during the trading session on Friday, but as the jobs number came out hotter than anticipated, the US dollar rallied against the Japanese yen. With that being said, if we can break above the top of the candlestick for the trading session on Friday, I think a recovery is very possible. There is a lot of noise out there about the Bank of Japan possibly normalizing rates, but at this point, that is still a bit far-fetched. More importantly, it looks like the Federal Reserve has yet another reason to think that they have to stay tight, as a hot labor market means that inflation ... (full story)

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  • Category: Technical Analysis