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Free AccessThe risk off theme has seen JPY crosses.........>
YEN: The risk off theme has seen JPY crosses sharply retrace European morning
gains and remain on the defensive. EURJPY failed to hold Y126.00 with the
corrective pullback extending to Y125.67 to keep the downside in check. Hourly
support is located through Y125.45-60, opening the Aug15 low at Y124.91. EURGBP
looks set to breach the Y140.00 level for only the second time since Aug 2017.
The YTD low provides initial support at Y139.90, below here opens Y139.31 (Aug
24 2017 low). AUDJPY touched Y80.16, expect minor support ahead of Y80.00, the
ytd low at Y79.70 is placed just behind. NZDJPY failed ahead of channel base
support now resistance, with the reversal extending to Y72.84. CADJPY flirts
with the 84.00 level with support at Y83.63 from the Aug13 low.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.