Tue, Jan 31, 2023 @ 23:49 GMT
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USD/JPY Tests Key Resistance

The US dollar edged higher after Fed officials reiterated the need to keep tightening. The pair has recouped most of the losses from a previous liquidation, which suggests solid buying interest at 140.50 along the 30-day moving average. The peak at 145.90 is a key resistance and its breach could resume the rally towards August 1998’s high at 147.60. From the daily chart’s perspective, sentiment remains upbeat and the bulls may see pullbacks as opportunities to stake in. 143.60 is the first level should this happen.

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