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Thomson Reuters
Aug 10 - 08:36 AM
USD/JPY - Bulls Dig In Despite Being Pushed To The Edge By EM Panic
First appeared on eFXplus on Aug 10 - 06:25 AM
  • Emerging market sell-off led by Turkish lira, Russian rouble hit risk
  • But possible base forming in USD/JPY ahead of the July 26 110.58 low
  • Bulls recover from the 110.61 (EBS) low, lowest level since July 26
  • Seems there are plenty of bids ahead of large stops said to be under 110.50
  • Thursday's long candlestick tail sends stark warning to bears nL1N1V104V
  • Japan's economy rebounds but trade rifts cloud outlook nL4N1V073J

Hourly Pivot Chart: Click here

Source:
Thomson Reuters IFR Markets

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