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Japanese Yen Bulls Keep Pressure on Key USD/JPY Support
The Japanese Yen has been confined to narrow daily ranges against the US Dollar for the past ten days or so. A break, when it comes seems likely to be instructive. Fundamentally both currencies have been sought as haven assets in the face of coronavirus’ spread. The Dollar made strong mid-March gains but the Japanese Yen has fought back since and USD/JPY’s downtrend from February 20 remains very much in place. That said the pair has broken above a shorter-term downtrend from March 26 in the past week. chart The problem for Dollar bulls is that it has not done so very convincingly and daily trading ranges since ... (full story)