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USD/JPY at risk of a double top on the daily charts now?

The reaction in the USD/JPY to the miss on US May Retail sales has seen the USD/JPY take a hit on the news. The dollar was actually falling back to below 157.75 a moment go. dropping to around 157.65. That fall was noted in the update on the EUR/USD immediately following the retail sales release. So, right now, unless anything changes ahead of the close tonight, we do have a potential double top on the daily charts, from the high last Friday, at 158.26 and the high seen earlier today, at 158.23. Now of course it is probably too early to conclude on that, but it is a live risk and one that could define a short-term top, if nothing else. The drop in US yields is underpinning that prospect just now too, as the 2 year note slips back towards 4.70%, from earlier highs above 4.77%. The USD/JPY is currently trading at 157.75 
 

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