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Usd/jpy continues higher


The dollar index heads for its longest winning streak

The dollar index heads for its longest winning streak since 1997 as usd/jpy hits another six-year peak on increasing expectations the Federal Reserve will hike interest rates sooner rather than later. US retail sales and consumer sentiment in the afternoon will give some clues to traders but the most important event will be next week’s FOMC meeting. A hawkish tone from Janet Yellen would push dollar even higher across the board. On another front, an ICM/Guardian poll shows 51% for ‘No’ and 49% for ‘Yes’ in the Scottish referendum, which sent sterling lower across the board. Eur/usd remains in a tight range with a break imminent.
Technical Analysis
Resistance 2 1.2990 1.6310 0.8025 108.00 139.10 1.2145 0.9180
Resistance 1 1.2950 1.6280 0.8000 107.40 138.80 1.2120 0.9100
Market   1.2930 1.6225 0.7965 107.25 138.70 1.2085 0.9050
Support 1 1.2860 1.6190 0.7935 106.65 138.00 1.2065 0.9030
Support 2 1.2790 1.6135 0.7905 106.05 137.35 1.2045 0.9000

 Daily Chart:
Price is trading within a triangle and a break out is imminent. A break and close on either side could accelerate momentum. 

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