USDJPY Technical Analysis – A key breakout increased the bearish momentum ...Middle East

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USDJPY Technical Analysis – A key breakout increased the bearish momentum
Fundamental OverviewThe USD remains on the backfoot as the US data continues to point to resilient growth with falling inflation. This week, we got a good US Retail Sales report suggesting that the stories of deteriorating consumer spending have been exaggerated. Overall, this should continue to support the soft-landing narrative and be positive for the risk sentiment. The JPY in this environment should keep losing ground against the major currencies and the Japanese officials can’t do much to reverse the trend unless the fundamentals change. Yesterday, the price broke through a key trendline and triggered a quick move lower in the USDJPY pair probably due to stops getting triggered. Overall

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