The moves point to a further relaxing to the carry trade unwind as risk sentiment is keeping steadier. USD/JPY in particular is up 0.5% to 147.30 levels now but is keeping just near the topside of the recent bounce from last week:It's not much of a suggestion that we are due a stronger retracement after the sharp fall in July. But buyers are trying to wrestle back some near-term momentum at least. The slow grind higher on the session now sees price move back above its 200-hour moving average of 147.18. It is the first time in four weeks that price action is trading above the key near-term level.So, that will be one to watch in trying to gauge sentiment in the pair over the next few sessions.
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