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Up and down like a yoyo- USD/JPY rebounds again
A short while ago the USD/JPY dipped below the 152 handle, hitting a fresh session low at 151.92. Prior to that it has lifted from a session low close to 152, to back above 152.50. Well it has just now rebounded back towards 152.50 once more. This volatile price action comes as the markets try to fathom exactly what the next move from the BOJ will be. The comments from the BOJ governor earlier this morning have not helped and the door on further BOJ tightening looks as wide open as it might be shut tight. The looming US election is a major factor right now too and perhaps for that reason we should expect more swings and roundabouts in coming days folks. If there was any advice to give here, it would probably read: stay flexible and nimble and bank gains when you have them and do not get married to anything unless you have your risk covered tight. The USD/JPY is currently trading at 152.46
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