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USD/JPY retreats as stock markets stall

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    USD/JPY spent much of the past week in a relatively tight consolidation as a lagging US dollar was offset by rising stock markets. Tuesday, however, saw the currency pair drop as both crude oil and major global equity markets stalled and pulled back after their recent winning streaks. During the course of the past month, USD/JPY has plunged to establish a 15-month low around 111.00 support, re-tested that support level to form a potential double-bottom technical pattern, and then fluctuated in

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