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Renewed Equity Weakness Sees USDJPY Reapproach 142.00

JPY
  • Renewed weakness for major equity indices sees the e-mini S&P fall to fresh session lows and down over 3.5% on the session.
  • The heightened volatility remains most evident for the Yen in currency markets with 143.00 capping the topside for USDJPY over the past hour. An 80-pip turnaround sees the pair narrow back in on 142.00 and the overnight lows at 141.70.
  • Despite the extreme oversold condition, price action signals scope for a move to the next key support at 140.25, the Dec 28 ‘23 low.

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