USD/JPY returns below 120 as oil declines

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    A new down-leg of the oil price was the dominant factor for global trading yesterday. There were hardly any in the US or in Europe. The oil-rout affected in the first place equities. However there was also a modest negative fall-out on the dollar. Especially USD/JPY was affected. Deepening losses on the US equity markets pushed the pair back to the 120 area. The pair closed the session 119.97 (from 120.99 on Monday). The losses of the USD against the euro were more modest. EUR/USD closed the

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