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USD/JPY: bulls on a knife's edge, balancing on vulnerable trend line support
Tuesday, 7 August 2018 08:22 WIB | CURRENCIES |Dolar ASDolarYenUSD/JPY,

USD/JPY is currently trading at 111.34 and is looking to stabilise on the 111 handle this Tokyo session, fending off the pressures from the 111.50's and overnight highs while otherwise, risk to 111.20 and the Europen lows opens the downside up against a vulnerable ascending support line formed back in March 2018 that, to date, has kept the bullish tend intact.

USD/JPY was better bid in the North American session after a risk-off market in European trade. The pair held in a tight 37 pip range above Friday's 111.11 low. US yields were subdued and that gives the outlook somewhat uncertain. Also, the political headlines are likely to the pair subdued this week, probably until US CPI hits the screens on Friday - (The DXY was trading between the day's range of 95.1990-95.5150 where the high being made in the latter part of the European session).

Source : FXstreet

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