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    JPY: Bulls more inclined to buy dollars on further weakness - BBH Sandeep Kanihama

    Research Team at BBH, notes that the dollar was turned back from the week high near JPY103.40 before the weekend, and it was pushed to the lower end of its narrow consolidative range (JPY102.40). Key Quotes“The RSI is low and flat, but the MACDs are about to turn higher.  The slow stochastics are also constructive.  We suspect that the blowout move to JPY99 satiated many of the yen bulls, and are more inclined to buy dollars on further weakness, in anticipation of a recovery in US job growth, and new stimulus in Japan after the July 10 upper house election.”

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