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    USD/JPY: correction and further growth on 09.07.2015

    Earlier this month, the Japanese currency was significantly strengthening amid the instability in Greece and a nosedive of the Chinese stock markets. These factors pushed investors to sell risky assets against the Japanese currency. Growing demand for the yen added pressure on the USD/JPY pair. In few days the price dropped by more than 300 points. Weak PMI services index also affected the pair. Yesterday the pair reached the key support level, which is the lower border of the upward channel.

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