By Admiral Markets
The USD/JPY is progressing towards POC zone (88.6, historical sellers) 105.85-106.00 where it might reject towards 105.00 and 104.25. If we see a further drop below 104.25 then the door towards 113.40 will be open. Pay close attention to the zone as POC might be the last line of defense for bears. Today focal point is BOE meeting which the swaps market is pricing a 81% probability of a cut. Equities will move too so pay attention to SP500 and DAX.
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Article by Admiral Markets
Source: USD/JPY posssible fade around 105.90
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