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USD/JPY lifts past resistance and holds as markets reassess BOJ decision

Since an earlier update here on the USD/JPY, the dollar has now pushed above its 200 day moving average, at 142.57. The extension to that move has seen the dollar rise to 142.89 so far. The move higher is all about expectations on the BOJ policy decision. So, if you looked at the USD/JPY right now you might think the BOJ will do nothing tomorrow. Well, according to all the Japanese economists and experts,; they will do nothing. That conflicts with thinking elsewhere. Of course it would be wise not to take any such an outcome for granted. There is clearly a two-way bet in play here and whatever the outcome it will be met with movement in the USD/JPY and the major Yen crosses too. Perhaps, it might be interesting (but not conclusive given the situation) to see if the USD/JPY can hold these gains above 142.57 into the US close tonight. It is currently trading at 142.80
 

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