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USD/JPY cracks the 61.8% retracement

Discussion in 'Technical Analysis' started by ForexLive, Jul 29, 2016.

  1. ForexLive

    ForexLive Forum Member

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    GDP sends the pair lower What a Friday double-whammy for USD/JPY. The BOJ's bazooka misfired and so did the US economy as GDP disappointed. A few hours before GDP, the pair was at 105.50 and it's trading at 102.72 now. The pair is sitting right on the session lows in a sign that no one is willing to catch the falling knife and I suspect it will close on the weekly lows as well.

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