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GBP/JPY downside risk remains as pound extends fall and yen rallies

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBP/JPY resumed its freefall on Tuesday by dropping below 164.00 once again, as the pound fell sharply against most major currencies and the yen rallied on a tentative return of risk aversion. One of the catalysts of this lowering of risk appetite and resumed flight towards the safe haven yen was crude oil’s downside reversal on Tuesday. This occurred after the announcement of a potential deal to freeze crude output by Saudi Arabia, Russia and others, was largely seen as a weak stopgap

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