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Sharp falls in global equities amid the.........>

YEN
YEN: Sharp falls in global equities amid the risk-averse theme has seen JPY sit
top of the pile in early NY.
- The break of Y106.00 in USDJPY triggered renewed supply from momentum type
accounts to Y105.78. This keeps the longer-term bearish trend intact with key
support from the ytd low at Y105.05, ahead of the psychological Y105.00 level.
- EURJPY's follow through the 100-hma, extended to Y118.29. Expect support on
approach to Y118.00 which holds the 76.4% retracement of this week's rally,
ahead of Y117.52, the Aug 12 low and former bear trigger.
- AUDJPY has now retraced 80% of yesterday's rally to Y71.37. A downside break
of Y71.00, returns the focus to the Aug 7 ytd low at Y70.74.    

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