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As stocks continue to get hammered, the JPY buying resumes

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Renewed losses in the stock markets, modest in US yesterday but more pronounced in Asia set the tone for the day. USD/JPY losses stood out as 116.50 and later 116.00 levels gave way to set lows beyond those seen in the flash crash seen last Aug. Comments from Japan officials that currency markets were being ‘closely watched’ was enough to turn the tide, having printed a 115.97 low. Recent AUD lows were only extended vs the JPY, but held off .6825 against the USD. Soft inflation hit the NZD hard

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