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USD/JPY steady around 115.00

After the release of US economic data, USD/JPY dropped to 114.73 and then jumped to 115.37, hitting a fresh weekly high. The pair then moved back toward the 115.00 handle and stabilized. 

GDP: Steady Consumer, Better Investment, Trade Volatility

Economic data from the US had no lasting impact on the pair. The lower-than-expect reading of US GDP did not weaken considerably the US dollar while later, the increase in Consumer Confidence failed to push the pair to the upside. 

It has been hovering around the 115.00 area during the last hours, consolidating an important daily gain. On a weekly basis the pair is just 50 pips higher but during the last two days, it rose more than 200 pips. 

A repeated week 

The US dollar made an important recovery after falling on Tuesday to 112.51. The area around 112.50 again, capped the downside, like what happened a week ago. 

Price action followed over the week, a very similar pattern that it did during the previous week, when initially dropped to 112.50 and then bounced sharply, ending the week marginally higher. During the last five days, USD/JPY traded inside last week range, above 112.50 and below 115.42. 

USD/JPY

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