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AUD/JPY Reaches a Stacked Level of Resistance
The Dow is rallying after Draghi told the market what it was braced to hear. That’s the risk barometer aspect of this pair. The Australian dollar is rallying on the solid Employment Change and Unemployment Rate numbers. Finally the Japanese yen is losing ground rapidly against the majors as the risk appetite on Wall Street is triggering yen selling. The euro had been steadily gaining on the anticipation of details of a bond buying program and today was the day that profits were initially taken on that large move. The market – despite the move higher in U.S. equities – is hesitant and that makes this move on the ... (full story)
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