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USD/JPY fails to follow through after last week strength

On Friday, it looked like a double bottom is in the making on USD/JPY. The pair concluded three day rally from lows with a daily and weekly close at the high.
On Monday, however, there wasn't any follow through. Instead, the pair fell right from the open and ended the day ten pips above Friday's low. That low was already busted today in early Asian trade. Downside again comes into focus with 112 and the 2013 - 2014 support line the first stronger levels to keep an eye on.
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Aussie rejects prices below 0.70

Aussie posted a weekly close below 0.70 level on Friday, September 4th, what was not seen since March 2009. After tight consolidation on Monday, September 7th, the pair turned back higher and rallied more than 150 pips from the lows. Another attempt at sub 0.70 prices was promptly rejected and the pair so far traded up to 0.71.
There may be deeper correction in the cards, especially if the Fed doesn't hike at the next week's FOMC meeting. Demand is likely to start coming in at 0.70 and below. In…
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