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Thomson Reuters
Oct 11 - 06:12 AM
USD/JPY - Bleed Stemmed By Japanese Bids Under 112 As Stocks Crumble
First appeared on eFXplus on Oct 11 - 02:55 AM
  • USD/JPY's speedy collapse to extend with a close below key Fibo
  • Wed saw biggest one-day fall since Sept 6, closing down 69 pips on EBS
  • Weakness down to a sharp rise in risk aversion, global stock market meltdown
  • Nikkei 225 closed down 3.89%, Nikkei futures correlation with USD/JPY high
  • 48/72-hour log correlations between Nikkei futures, USD/JPY is +0.70/+0.54
  • Japanese bids return below 112.00, range has been 111.97-112.32 so far Thurs

Hourly Candlestick Chart: Click here

Source:
Thomson Reuters IFR Markets

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