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Coleman: Countertrend trade in USDJPY
The US Dollar regained some of its losses in overnight trading in the Asian markets, after disappointing US retail sales figured pushed USDJPY to USD 116.07. Despite the slight rise in the dollar’s value, Ian Coleman from First 4 Trading is expecting further weakness from the greenback. Current volatility in the US equities market has been pressuring the dollar’s value lower. Ian belives the absence of a lower low on the Intraday Chart has not yet confirmed any potential bias to the upside in USDJPY.
01:22 minutes
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