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USD/JPY bottoms out after Trump speech and ahead of Fed speakers

USD/JPY has formed a double-bottom pattern around the 111.50 price area in the immediate wake of President Trump’s well-received address to Congress on Tuesday night, and ahead of a slew of speeches on Friday from Federal Reserve officials, including Chair Janet Yellen.

USD/JPY falls ahead of BoJ and Fed policy meetings

USD/JPY dropped back below 114.00 as the Japanese yen surged on Monday, ahead of the Bank of Japan’s (BoJ) monetary policy decision and statement scheduled for early Tuesday in Japan.

GBP/USD establishes a major 1.20 double-bottom – now what?

As of mid-day Thursday during the US trading session, markets have moved quite a bit since US President-elect Donald Trump held his heavily-anticipated press conference a day earlier. Although equities and the dollar were resilient in the immediate aftermath of the Trump presser, Thursday morning saw the broad US stock indexes and the dollar dive while gold continued to recover. After the dust settled, Trump’s failure to mention any of the promises that have helped spark and sustain the current rally in stocks and the dollar – namely, increased fiscal spending, lower taxes, and financial deregulation – disappointed market expectations.

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