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USD/JPY stalls on a second attempt to rise above 147.15

Earlier today an update here noted how the rebound in the USD/JPY, from a session low at 146.23 rose back above 1476, but stalled short of what is now a resistance level, at 147.15. The first attempt at rising above that price point stalled at 147.11 and it subsequently dropped back to 146.46. That was followed by another rebound and attempt to rise and take out that 147.15 level. Well, that has stalled for now too. A short while ago the USD/JPY rose to 147.08, whereupon it met with sellers once more. That has now kicked it back down to 146.60 as I write. The upshot of this could lead to further downside too, especially as it seems there are more sellers than buyers each time it pokes its head above that 147 mark. We shall see how it plays out from here. The USD/JPY is currently trading at 146.62
 

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