USD/JPY Price Outlook: US Dollar Eyes Sentiment Data on Deck

The US Dollar lacked direction and traded broadly mixed on Thursday. USD price action strengthened modestly against the Pound and Yen, but weakened against the Australian Dollar and Euro. On balance, the DXY Index finished roughly flat as US Dollar bears and bulls continue to battle for direction near the 50-day simple moving average. This has given pause to the latest stretch of US Dollar selling pressure, which corresponded with a breakdown of the relative strength index and invalidation of the short-term bullish trend formed from the 06 January and 26 January lows. Failing to maintain altitude around the … (full story)

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