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USD/JPY falls closer to major support level at 146.18
I said earlier this morning; that the Bank of Japan was now seemingly moving towards ending its negative interest rate policy later this month. I also stated that unless US bond yields can rise further after the monthly jobs report, the USD/JPY was at risk. Well, it seems the markets have not waited for that US data before punching the USD/JPY lower again. The break below the Asian low, at 147.53 sparked a round of fresh dollar selling. So, the dollar fell sharply not long after the European stock markets reopened and that fall has taken it to a fresh interim low, at 146.88. It off that low now, but not exactly charging back up yet. This latest relapse has now taken the dollar closer to a major support level at 146.18. That is where the 200 day moving average is in place right now. The USD/JPY is currently trading at 147.15
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