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Thomson Reuters
Jan 02 - 08:36 AM
USD/JPY - Risk Aversion Brings USD/JPY Fibo Into Focus As Longs Exit
First appeared on eFXplus on Jan 02 - 06:40 AM
  • Risk aversion bites, causing a 109.73 to 108.71 USD/JPY (EBS) drop Wednesday
  • Fall on concerns about U.S. government shutdown and faltering global growth
  • As USD/JPY collapses under a major Fibo, bears eye another nL1N1Z204S
  • USD/JPY longs are caught and have been exiting since the start of the week
  • Long tail on a recent hourly doji candlestick brings a pause in the fall
  • This relief will likely prove to be merely temporary, decline set to resume

EBS Flow Data Chart: Click here

Hourly Candlestick Chart: Click here

Source:
Thomson Reuters IFR Markets

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