USD/JPY: Given the dovish FOMC minutes, the trendline held and prices dipped to 101.72, at which point the risk-on lift in the Nikkei offset the drop in 2 year yield spreads. Tuesdays 101.55 low is at the up TL off the Feb & March lows. Japanese dip buying interest persists, but would be at risk if the 101.20 Feb lows, 200-DMA and up TL from last June were to give way.
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