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USDJPY analysis - Pair rallies further beyond 108.00

Squared Direct | Jul. 23, 2019
The GBPUSD pair rises sharply as parliament tried a maneuver intended to avoid a no-deal Brexit. The pair is now trading at 1.2547.
The shared currency is trading on the back footing at the end of the week, forcing EURUSD to recede from recent tops and trade in the 1.1260 region.
The Dollar/Yen broke below 107.80 yesterday, currently holding above 107.60, which is a key support level. Will price climb above 107.8 level?
Gold is about to complete a triangle pattern which might cause a bullish breakout. The following technical analysis is based on the Elliott wave theory
The Japanese currency was favored against the greenback after disappointing US housing data. Could the pair face a significant meltdown towards 107.05?
Crude oil price falls sharply yesterday to settle at the $56.30 to $56.50 support area and the selling continues this morning.
Gold price breaks back above the 20-Day moving yesterday, dominated by bulls lifting the market higher throughout the day.
The USDJPY pair is bearish while trading below the 108.23 level, sellers may test back towards the 107.50 and 107.10 levels.
The British pound continues to recovery against the greenback after the pair found solid technical support from the key 1.2380 level.
FX broker LMAX Global has received approval from the Cyprus Securities and Exchange Commission (CySEC) to acquire CB Capital Business Ltd.
OECD’s chief economist is urging Europe to loosen austerity policies and measures and to increase public expenditure to stimulate economic growth.
EURUSD almost hit 1.12 on Wednesday at the start of the London session. The following technical insight is based on the Elliott wave theory.