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USD/JPY: When Can You Buy?
For four consecutive trading sessions, the USD/JPY, the US dollar against the Japanese yen, was exposed to profit-taking selling operations that pushed it towards the support level of 149.18 before settling around the level of 149.55 at the beginning of this week’s trading. Recently, USD/JPY record gains reached the resistance level of 151.70, its highest level in a year, and we recommended Selling near that peak resulted in strong gains. Meanwhile, the Japanese yen remained weaker against the rest of the other major currencies, led by the US dollar, affected by the continued negative interest policy of the Central ... (full story)