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USDJPY News

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Last Updated Date: 29 March 2022 @ 6:22 AM (UTC)
*Please note that all the dates are in GMT time zone

The yen fought to regain a footing on Tuesday, recovering a little from heavy selling as some traders start to see risks of official pushback if Japan's currency falls much further.

The yen has been hammered some 7% lower through March as the Bank of Japan (BoJ) has stuck with dovish policy settings - this week buying bonds to defend its yield target - while central banks in the rest of the world are hiking rates.
 

After 10 days showing a strong overbought status, the USDJPY starts its first down correction day with a short term bearish signal, triggering a breakout under the 122.60 low and opening up potential for declines to 121.06. Trade is poised for pressing follow through selloffs.

 
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