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Modest risk-off flows triggered by a lack of....>

YEN
YEN: Modest risk-off flows triggered by a lack of breakthrough in US-China trade
talks aided the JPY overnight. Sources also attributed the move to post-fix
sales from Japanese institutions and exporter names which pressured USDJPY back
under Y108. The corrective pullback spilled over into Europe touching extended
session lows of Y107.77. The Jan 4 low provides the next layer of support at
Y107.52, ahead of the 38.2% retracement of Y104.87-109.09 at Y107.47. EURJPY
rejected a move above Y125.00 yesterday and was dragged lower o/n on the
risk-off flow towards Y124.50. AUDJPY retraced to Y77.08, GBPJPY dipped back
under Y138 to Y137.71.

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