I posted here on my blog what had been a concern for many currency experts when the Fed went ahead and raised the rate in December. Many said that we would likely see a weaker $USD as a result. I think we are just seeing the start of it. I am wathcing for the failure of this pennant on the daily chart in the week ahead.
$USD is floundering post Fed rate hike in this pennant formation.
The USD/JPY weekly is on key support due to carry unwind from the stronger yen.
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