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Friday Technical Analysis Recap: USD/JPY, GOLD, GBP/USD, EUR/USD
Heading into the US Federal Reserve’s interest rate decision, we were watching this key USD/JPY resistance level:With the interest rate hike fully priced in, it was always going to be about the Fed’s expectations for monetary policy heading into 2017. With price at a major resistance level and starting to reject, we were looking to make a play at selling some intra-day weakness. The hourly chart in Tuesday’s blog above shows the clear risk profile we had set up.As we now know, the Fed raised rates and most importantly, forecast three more hikes in 2017. Much higher than the market had expected and with this ... (full story)
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