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USD/JPY hits 110: where to next?

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The USD/JPY fell for a time below the psychological level of 110 this afternoon before bouncing back to trade around 110.30 at the time of this writing. The selling was triggered in part by dollar weakness on the back of mixed-bag US data and recent dovish commentary from the Fed, and also on safe haven flows into the yen as equities sold off. What happens next will be very important as far as the medium term direction is concerned. The weekly chart of the USD/JPY, below, shows that the 110

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