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USD/JPY skirts 21 day moving average
The noted drop back in the USD/JPY later yesterday saw the dollar give up on an earlier move to a high at 144.67. The US data that really did the damage for the dollar versus the Yen was the really weak US consumer confidence index, which fell back below 100 and sent the USD/JPY sharply lower. The dollar continued to lose ground into the US close. The USD/JPY closed last night at 143.23. Earlier today it fell below the 143 handle, reaching a low at 142.91. It has rebounded off that low since and lifted back to test 143.50 (143.49 the high). Overall, the immediate price action seems to be flipping either side of its 21 day moving average (right now at 143.34). However, the dollar is still suffering the overhang of that US data yesterday and it remains to be seen, if it can truly recover from that, but right now doubts remain. The USD/JPY is currently trading at 143.27
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