Unemployment claims this week showed a decrease of 17 thousand less people filling for unemployment benefits. This brings the number to 297 thousand.
The USD/JPY pair breached my target price of 120.00 and suffered a slight drop afterwards. This level will be tested soon and the overall consensus for this pair is upwards.
Clarence Lim, a trading associate also agreed on the movements and predicted that the price of this pair will hover around this level till the year end.
I decided to hold this pair to collect swap interest and the potential gains from more appreciation.
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