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USD/JPY Tumbles To Major Support And New Long-Term Low

Discussion in 'Technical Analysis' started by Kaitlin, Mar 18, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    USD/JPY tumbled on Thursday to dip briefly under major support around the key 111.00 level, the area of February's double-bottom lows, and established a new long-term low in the process. This drop was driven primarily by Wednesday's pivotal Fed statement on monetary policy, and the clearly dovish undertones that emanated[​IMG]

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