USD/JPY poised for more gains

Wednesday, 03/05/2017 | 07:22 GMT

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The FOMC meeting could derail this, but USD/JPY has been rallying for the last couple of weeks and is now finding resistance around the 38.2% retracement of the sell-off from the start of the year. A break above here opens the way for a move to the 50% line at 113.39.

GBP/AUD still has upward momentum but the pair is struggling to make a sustained break above the highs of last December. If this proves successful, then look for a retest of recent highs around the 1.7410 mark.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice

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Source: https://www.stofs.com/en/newsroom/entry/GENERAL/usdjpy-poised-for-more-gains/?camp=24219

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