This pair is currently trading at 98.25, 100 pips up from the low just yesterday, and for the time being stalled in a congested area just above 98. Though I do not like to initiate new positions on a Friday, I want to try to scalp the long side and see if we can take out some stops above .98.50. The Japanese are exporters and have a vested interest in a weaker yen since this benefits exports.
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