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Sharp Bout Of Volatility For USDJPY As Initial Yellen Induced Spike Reverses

JPY
  • USDJPY: Despite the sharp spike to 131.00 on the Yellen headlines, USDJPY has now quickly reversed and has made fresh intra-day lows below 130.40.
  • As noted, 129.75 is the next target. Key support remains much lower at 127.23, the Jan 16 low.

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