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Thomson Reuters
Oct 08 - 07:24 AM
USD/JPY's Biggest Hourly Drop Since July: Bears Sense Blood
First appeared on eFXplus on Oct 08 - 05:50 AM
  • Jittery: previous hour registered the biggest one-hour drop since July 20
  • Hour trading opened at 113.73 and closed at 113.29 according to EBS prices
  • Heavy selling in Ldn accelerated, spot hits a 113.25 low. 113.94 Asia high
  • Bears have managed to force a break below 113.42 Fibo (23.6% 109.78-114.55)
  • A daily close below 113.42 will be another ominous sign for USD/JPY longs
  • Surging USD/JPY longs presage a sell-off

Hourly Candlestick Chart: Click here

Source:
Thomson Reuters IFR Markets

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