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Japanese Yen Price Action Setups: USD/JPY, EUR/JPY, AUD/JPY, GBP/JPY

February 21, 2023

Via: DailyFX

Short-term downward momentum in the Japanese yen remains intact ahead of Friday’s US core PCE price index data. Recent strong US data have triggered a dramatic repricing higher in Fed rate expectations and the market will be watching for cues on the US Federal Reserve’s preferred inflation gauge. Still, technical charts suggest it may be too soon to conclude if the Japanese currency has embarked on a depreciation trajectory beyond intraday timeframes, at least against the US dollar.

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