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USD/JPY looks squeezy as buyers move in at key level
USD/JPY may squeeze higher in the near-term ahead of the key US ISM services PMI, attracting bids below the 50-day moving average after yet another lurch lower on Tuesday. USD/JPY rout stalls at 50DMA The daily chart tells the story, showing the modest bounce in USD/JPY after it traded through the level. While momentum remains to the downside, it’s difficult to ignore the price action at 50DMA given how respected it's been in the past. Rarely does it give way without USD/JPY spending a considerable amount of time on the side it crossed over to. So the fact it held on this occasion is noteworthy, at least in the ... (full story)