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USD/JPY Struggles To Retake 107.00

Discussion in 'Technical Analysis' started by Kaitlin, May 5, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Upbeat US Services PMI data caused the Greenback to outperform the Japanese Yen on Wednesday, but with the exchange rate unable to move over the 107.00 psychological level. Technically, supply at this major level could trigger a USD/JPY sell-off, with the nearest support located around 105.35, namely the Bollinger band[​IMG]

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