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USD/JPY Forecast August 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Monday, 22 August 2016 06:36 UTC
The USD/JPY pair bounced slightly during the course of the session on Friday, as the 100 level offered a bit of support. This being the case, the market looks as if it could bounce from here, but there is a significant amount of noise above that should continue to put pressure on this market. The Bank of Japan below should be interested, so if we break down I think that you would have to be very cautious about any potential intervention or quantitative easing going forward. With this, it’s likely that the market will be volatile.

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