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The big move today was in USD/JPY

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Overview The big move today was in USD/JPY, after soft China manufacturing PMIs added to the gloom reflected in western stocks ahead of the new year sent Asian equity markets into a(nother) spin. Chinese stock markets were eventually halted (5% and 7% circuit breakers), and this prompted a flight to safety, or more a case of repatriation, with the JPY dropping through 120.00 and later 119.00 but bottoming out at 118.70 – 118.00 the next key level from here. Adding to negative sentiment was

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