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USD/JPY unable to hold move above 146

Yesterday afternoon, as reported on here at the time, the USD/JPY reacted positively to the higher than forecast US CPI report. That saw the USD/JPY lift past a Fibonacci objective at 146.08. The high seen was set at 146.41. However, after the 4pm London Fix, the dollar was not able to hold the gain and fell back into the US close, where it later ended the session at 145.29. That was certainly a rather disappointing close to say the least. The USD/JPY has not really recovered that fall so far today and earlier it fell to a session low at 144.85. It is back above the 145 handle now though, currently trading at 145.22
 

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