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Thomson Reuters
Sep 03 - 05:00 AM
USD/JPY's Outlook Hurt By Risk Aversion, But Cloud Base Key
First appeared on eFXplus on Sep 03 - 03:15 AM
  • Narrow range of 110.85-111.19 Monday, U.S. labor day holiday thins market
  • Downside risk up due to U.S.-China trade tensions, lack of U.S.-Canada deal
  • There is a likely a cluster of heavy stops layered below daily cloud base
  • But bears beware of the recent hammer and daily cloud base
  • Nikkei 225 index closed down 0.69%, highlighting risk aversion
  • 48/72-hour log correlations between USD/JPY and Nikkei 225 index above +0.50

Hourly Pivot Chart: Click here

Source:
Thomson Reuters IFR Markets

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