USDJPY Technical Analysis – The soft US data triggered a correction ...Middle East

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USDJPY Technical Analysis – The soft US data triggered a correction
Fundamental OverviewThe USD weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. All else being equal, the risk sentiment should remain supported amid the pickup in global growth. Even if the US Dollar weakens against the other major currencies, the JPY in this environment should keep losing ground and the Japanese officials can’t do much to reverse the trend unless the fundamentals change. We will likely need weak US growth data to see some sustained Yen strength, although

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