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Thomson Reuters
Jul 26 - 07:24 AM
USD/JPY - Steady But At Risk Of A Big Fall, Offers Near 111.00
First appeared on eFXplus on Jul 26 - 05:55 AM
  • USD/JPY longs crater on weaker dollar, BOJ risks nL1N1UM06V
  • Dollar long position is crowded, and could get crushed nL1N1UL06A
  • Bears have grappled with key Fibo, close below will weaken nL1N1UM060
  • USD/JPY, Nikkei futures track each other, 48/72-hr correlations above +0.5
  • Spot range has been 110.58-111.04 so far on Thursday according to EBS
  • Decent supply at and above the 111.00 level should limit recovery attempts

Weekly Fibo Chart: Click here

Source:
Thomson Reuters IFR Markets

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