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Risk-off flows dominate in early Europe which...>

YEN
YEN: Risk-off flows dominate in early Europe which sees the JPY registering
gains across all of G10.
- GBPJPY prints Y135.22 its lowest levels since the Jan 3 flash crash.
- EURJPY dips back under Y121.50 with bears focus on the psychological 121.00
level. A downside break is likely to accelerate the move toward Y120.78/77 which
represents the Jun 3 low & up trendline support drawn off the 2012 lows.
- CADJPY approaches Y82.00 with support expected through Y81.80/00 from a series
of previous highs.

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