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USD/JPY: Things could get ugly if we break major support at 116.00

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After Friday’s not-as-bad-as-it-appeared NFP report , traders were optimistic that we would see risk sentiment return with Chinese markets on holiday this week, but so far those hopes have not been realized. It’s been an ugly start to the week for so-called “risk assets,” with global stocks, oil, and high-yield bonds all on the back foot at the start of the US session. Beyond oil, one of the best indicators of global trader sentiment has been USD/JPY which is, not surprisingly, falling for the

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