Yen failed to break the resistance at 114.20 and has fallen back into the range of 111 and 114. With weakness of dollar index and doubt over next FOMC action, Yen is set to test 111 support base again. However, with a negative rate policy of japanese central bank, 110.5 would be difficult to break. Yen crosses like GBPJPY, CHFJPY are set to fall more than other yen crosses.
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