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💹USD/JPY Holds Up Trend, Bounces From 50DMA: Cable FX Macro

  • Dollar-yen is trading in gains for the third consecutive session after the cross tested its 50DMA. The average is currently at around 152.2, this was met following heavy trading on FX intervention from Japanese authorities

  • Some shorts were targeting levels as low as 150.0, the 50DMA and support from February highs stood on the way

  • Looking up to 160.0, 156.3 stands as resistance. If short-term resistance is breached, the next level to watch will be 158.0


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