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EUR/JPY extends gains in the aftermath of BOJ rate cut

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/JPY extended its gains further on Monday following last week’s surprise interest rate cut into negative territory by the Bank of Japan (BoJ). That unexpected rate cut sent the yen reeling against other major currencies, as it reaffirmed the BoJ’s aggressive easing stance. In the wake of this action, USD/JPY, which had risen sharply late last week on a plunging yen, pulled back on Monday due to dollar weakness prompted by the ramifications of the BOJ’s decision on the Federal Reserve’s own

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