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Thomson Reuters
Aug 07 - 08:36 AM
USD/JPY - Longs Buckle, Big Stops Clustered Below Key Level
First appeared on eFXplus on Aug 07 - 06:25 AM
  • USD/JPY has edged lower as crowded dollar longs begin to buckle nL1N1UY05V
  • USD/JPY on course the extend fall, supply near the kijun line nL1N1UY052
  • Interim offers said to in circa the 111.50 level
  • Has fallen from Asia's 111.44 high to hit a 111.17 low in London on the EBS
  • Bears have managed to register an hourly close below the 111.20 pivot point
  • 110.50 is a key level on the downside to watch, large stops said to be below

Pivot Chart: Click here

USD/JPY Hourly Pivot Chart: Click here

Source:
Thomson Reuters IFR Markets

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