Technical Analysis

USD/JPY touches 61.eight% retracement of the Powell drop

USD/JPY ticks off resistance

USD/JPY bounced properly on USD inflows after the Powell put went into impact. There is a main cross present right here with optimistic threat sentiment battling with Fed dovishness.

If you wish to promote USD/JPY, the 61.eight% retracement degree is the one to look at within the near-term.

However if you wish to promote USD on Fed dovishness, there are in all probability higher locations than USD/JPY.

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