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Yesterday's weakness managed to pierce the......>

YEN
YEN: Yesterday's weakness managed to pierce the 113 level but found support at
the 21-dma, which has seen bulls tentatively reclaim 113 at the time of writing.
Bulls now need to close back above 114 to target the Oct 4 & Nov 2017 highs at
114.55/73. Failure to hold above the 21-dma would open 100-dma support, raising
the prospect of a bearish reversal pattern.
- The drop in USDJPY in recent days has been out of line with the relatively
modest fall in US real yields, which, based on recent correlations, suggests a
further drop in US yields will be needed to send the pair much lower. 
- Yen crosses are finding some support after EURJPY held its 100-dma, with
AUDJPY looking to mount a recovery following the successful hold above 80
yesterday. 

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