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USDJPY Looks Ready to Collapse
The USDJPY has had a nice run since the beginning of September. We looked at the pair last month when buyers were approaching the 112.15 area and again at 113.15. The former even offered a chance to get long during the September 20th retest of 112.15 support. However, the risk-sensitive USDJPY hit a brick wall last week at 114.50. There are several highs dating back to December 2016 that make the area stand out. So far this week, market participants have picked up where they left off on Friday. Yesterday’s session dropped to a low of 112.82 before managing to close the day back above 113.15 support. You can see how ... (full story)
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