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USDJPY - Settles Around 108 after BOJ Hints at Further Easing

 

 
Despite the fact that it has rallied a little in the last few days, the USDJPY has moved considerably in the last couple of months falling from above 112 down to a 2019 low below 107 a few days ago. Several weeks ago it enjoying some support from around 109 and trading back and forth between 109 and 110.50, before dropping through the support at 109 and moving lower. The 109 level remains a key level and is likely to play a role should the USDJPY continue to rally higher.
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Japan Retail Sales m/m

Today at 11:50pm UK time. Retail Sales m/m show the total volume of retail sales of goods and services in the past month compared with the previous one and indicator growth can have a positive effect on yen quotes. F:-0.6%, P:0.0%. #USDJPY may test 109.

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Bank of Japan (BoJ) Interest Rate Decision

Today at 2:30am UK Time. Establishing an interest rate is one of the main tools of the monetary policy used by the Bank of Japan to regulate the strength of its currency. F:-0.1%, P:-0.1%. #USDJPY may retest 109.

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Market Recap: 27 - 31 May

 

 
On Tuesday last week we covered the GBPUSD which finished the week off rallying a little and trying to stop the rot of its large declines. It has however remained below the current key level of 1.27. In the last few weeks the GBPUSD has fallen sharply from the key level at 1.32 down to a five month low near 1.2560. It had previously done well to rally from a two month low up to the 1.32 level before sellers jumped in and turned the sterling away strongly.
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USDJPY - Settles Below Key 110 Level as BOJ Assesses Further Easing

 

 
In the last few days the USDJPY has found some support around 109 and pushed back up towards the key level of 110. In the last few weeks it has generally traded back and forth between 109 and 110.50 and looks content to consolidate for a little while.  In the few weeks prior, the USDJPY fell lower from another key level of 112 after the currency pair met resistance there for a couple of weeks and was unable to push through.
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Market Recap: 6 - 10 May

 

 
On Tuesday last week we covered the AUDUSD which has continued to do very little trading under the current key level of 0.7050. In the last couple of weeks the AUDUSD has continued to decline further moving to a four month low under 0.70, which all started several weeks ago when it dropped very sharply to near 0.70 within 24 hours and this saw it fall below the key 0.7050 level to a six week low.
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USDJPY - Looks for Support at 110 as BOJ Considers Further Easing

 

 
In the last couple of weeks the USDJPY has fallen lower and returned to one of the current key levels of 110. For a week or so, the USDJPY met resistance at the 112 level and failed to make any ground above this level despite several attempts. It pushed up to its highest level this year at 112.40 before being sold off and returning to 110.
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Market Recap: 22 - 26 April

 

 
On Tuesday last week we covered the USDCAD which for the first time in some time left the prevailing range and traded above the key 1.34 level reaching its highest level in 2019 before easing a little to finish the week. In the last few weeks the USDCAD has traded within a narrow range and consolidated under the current key level of 1.34 which was also offering resistance to the currency pair moving higher. 
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USDJPY - Steadies Below Key 112 Level as BOJ Loses Optimism

In the last few days the USDJPY has eased lower back below the key 112 level moving to a two week low. It has for the last couple of weeks met resistance at the 112 level and failed to make any ground above this level despite several attempts. A couple of days ago it moved to its highest level this year at 112.40 before being sold off strongly forcing it lower to the two week low. 

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Japan Retail Sales m/m

Today at 11:50pm UK Time. Retail Sales m/m show the total volume of retail sales of goods and services in the past month compared with the previous one. This is a highly volatile indicator, it is seasonally adjusted. F:-0.2%, P:0.2%. #USDJPY may test 112.

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