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USD/JPY drops back from above 154
Earlier today the USD/JPY managed to force its way above 154, reaching a session high so far at 154.06. However, as expected this level has proven to be rather sticky and the dollar did not stay above it for very long. Clearly sellers have stepped in to stunt the move and send the USD/JPY back down, to a low so far since, at 153.41. We did have a fall in the Nikkei 225 to help that relapse and it has not come as a result of any fresh rhetoric from Japanese officials. Nevertheless, the USD/JPY is on the rebound again just now, as the European markets get underway. The USD/JPY is currently trading at 153.82
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