Wednesday, October 9, 2013

USDJPY Unable To Break Above Hourly Channel After FOMC Minutes

Hourly candlestick charts show the USDJPY trading in a well-defined bearish trend channel since September 20. The top of the channel was tested after FOMC minutes from the September meeting were released. The USD strengthened against the JPY as the minutes indicated that most Fed officials saw tapering this year



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