In a sense, nothing happened in USD/JPY this week ...Middle East

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In a sense, nothing happened in USD/JPY this week
What's in a 19-pip move?That's the total change in USD/JPY on the weekly chart. Of course it doesn't tell the whole story, not even close. The pair cratered after hitting a 34-year high last month and had fallen more than 20 big figures by Monday.The drop came as the carry trade collapsed and that spiralled into the largest one-day loss in Nikkei 225 history. It also rattled global markets, sending shockwaves nearly everywhere.Market began to calm Tuesday, in part due to the Bank of Japan signalling that it was done raising interest rates -- essentially giving the 'all-clear' for traders to re-enter and re-inflate the bubble.That reversal-in-position plus the incredibly oversold conditions l

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