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USD/JPY climbs after retail sales

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USD/JPY chews into the drop

USD/JPY chews into the drop

The market reaction to today’s strong US retail sales numbers was modest but USD/JPY has been a winner as yields tick up, particularly in the belly of the curve.

There’s a double bottom on this chart at 109.75 with a measured target close to 110.50 as the pair attempts to fill in the gap.

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