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Fundamental Analysis
USD/JPY
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[QUOTE="HotForexsignal, post: 160387, member: 58463"] [B]USD/JPY retreats farther out cold 111.00 marks, erases a major share of yesterday's taking place-impinge on to YTD tops[/B] [I]Geopolitical tensions underpin JPYs safe-port demand and prompted spacious selling. Traders auxiliary took cues from sliding US sticking to yields surrounded by subdued USD demand. The focus now shifts to the Fed Chair Jerome Powell's testimony past Congress.[/I] The USD/JPY pair now seems to have entered a consolidation phase and was seen oscillating in a narrow trading band stuffy the degrade subside of its daily trading range, very just about the 110.80 regions. The pair fruitless to capitalize very very approximately the overnight goodish happening-concern to 111.25 area, or well-ventilated YTD tops and met past some light supply nearly Tuesday in wake of geopolitical tensions in the Asian peninsula. Reports of Indian airstrike in targets in Pakistan partly offset the latest optimism on the extremity of the US-China trade negotiations and triggered some risk-hypersensitivity trade during the Asian session upon Tuesday. The risk-off environment was evident from the ongoing slide in the US Treasury bond yields, which underpinned the Japanese Yen's relative safe-port demand and was seen exerting some well-ventilated downward pressure upon the major. Meanwhile, a subdued US Dollar price pretense did tiny to lend any maintenance or have an effect on the price undertaking as the focus now shifts to the Fed Chair Jerome Powell's semiannual testimony past Congress distant today. This coupled behind than the bolster US GDP ensue figures upon Thursday will involve the close-term sentiment surrounding the USD price dynamics and offer some meaningful directional impetus. [/QUOTE]
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