USD/JPY: double bottom playing out to test converging hourly smas

USD/JPY has kicked off in Tokyo with the bulls showing their hand first, running up 10 pips to the hourly 200 and 50 smas after 30 pip ranged day overnight. Currently, USD/JPY is trading at 107.12, up 0.11% on the day, having posted a daily high at 107.16 and low at 106.99, (NY 106.90 and 107.20). …

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