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USD/JPY stretches towards 61.8% retracement

Discussion in 'Technical Analysis' started by ForexLive, May 10, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Post BOJ losses continue to evaporate The BOJ decision to leave monetary policy unchanged was never as big a surprise as the market reaction indicated. Given that, and the inability to extend the drop, it's beginning to look like a bit of a blow off. At the same time, the jawboning and threats of intervention from Japanese officials have thinned out parts of the crowded long yen (short USD/JPY) trade.

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