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Japanese Yen Bulls Fail To Crack USDJPY Range Base Once Again
The Japanese Yen remains rather stuck against the US Dollar as this week’s action has once again validated the pair’s short-term trading range. Dollar bulls have for the moment fended off the downside range break which looked all-too likely after the sharp USDJPY falls seen on July 10 and 12. But sure enough this week’s Monday bounce came at that day’s intraday low, which coincided exactly with the range base, at 107.76. That clearly now remains as important near-term support, with little between the market and 2019’s low should it break on a daily or weekly closing basis. Dollar bulls still have plenty of ... (full story)