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Thomson Reuters
Aug 31 - 03:48 PM
USD/JPY's Trade-Related Derisking Slide Finds A Toe-Hold
First appeared on eFXplus on Aug 31 - 02:25 PM
  • Trade war risk rise dragged USD/JPY toward Cloud base at 110.65
  • 110.69 low also by pivotal 61.8% of late-Aug rebound at 110.56
  • JPY buying much heavier against hi-beta/EM ccys than the USD
  • USD demand broadened as trade fears spread to EZ and Canada
  • Oversold USD/JPY bounce capped near 200-HMA
  • AUD/JPY breaks Aug's multi-yr low & 61.8% of post-Brexit rebound
  • GBP/JPY in retreat after 61.8% of July-Aug drop hit mid-week
  • EUR/JPY slides to 128.57 Tenkan on US-EZ trade, Italy & EZ data

Chart: Click here

Source:
Thomson Reuters IFR Markets

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