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DailyFX Home / Analyst Picks / Ilya Spivak

USDJPY: Long Trade Confirmation Pending

By , Currency Strategist
26 April 2012 11:01 GMT

I was expecting today's FOMC outcome to be supportive of USDJPY. Although the outcome proved to be largely as expected, the market's reaction left a lot to be desired. I still see scope for US Dollar upside however as traders digest the outing and will look for confirmation on a daily close above 81.60 to enter long, initially targeting 83.71.

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26 April 2012 11:01 GMT