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USDJPY Technical Update – Week Of 18th February 2013
The Japanese yen plummeted on Friday as global policy makers attempted to talk down concerns around the so called “currency wars” and advised that they did not intend on interfering with Japan’s monetary policy efforts. The USDJPY pair subsequently rallied around 1% after hitting technical support in the 92.21 region. EURJPY likewise experienced a 1% gain.. We note that the greenback has risen 17% versus the yen since November 2012. The daily timeframe Ichimoku chart below shows that price is now aligned with the Tenkan Sen in the 93.30 area. We will be monitoring the following USDJPY downside levels in the ... (full story)
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