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USD/JPY stages powerful rally

Accordingly to the 1-hour MACD, the runaway USD/JPY market has reached its highest intraday momentum of the last month of trading.

Caution is advised not to trade into a buying climax as a torrent of selling could very well ensue. This could take the form of short-term profit taking or long-term sellers joining the market. The just printed hourly MACD value shows less acceleration, an early sign of a possible plunge in USD/JPY price action.

EUR/USD hefty declines triggered on dovish ECB - BNP

Analysts at BNP Paribas explained the benefits of a fresh reduction in rates in the EZ that derive first and foremost from the euro’s exchange rate.
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