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USD/JPY Forecast: Looking for Support Near 200 Day EMA
The US dollar has initially rally during the trading session on Monday, but then broke down significantly as the ISM Manufacturing PMI figure came out lower than anticipated. Beyond that, there are PMI figures around the world that are drifted lower so it’s very likely that people are focusing on the potential of a global slowdown. Remember, this is a very risk sensitive pair and that’s exactly how it acted during the session. From a technical standpoint, there should be plenty of support near the 200 day EMA which is getting ready to see the 50 day EMA Krause above it. At this point, I suspect that another day ... (full story)