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USD/JPY update (18th May 2017, 11:00)

USD/JPY pause or more of retracement likely.

USD/JPY pause or more of retracement likely.

The demise of the USD/JPY rally from the April low, and with it the carry trade, is being viewed as one of the key suspects in the current market sell-off.

Signs of a bounce have been rudely interrupted by a swift drop back below ¥111, but given the magnitude of yesterday’s fall, a pause or more of retracement is likely. This could run as far as ¥112 or ¥112.50 towards the 50-hour simple moving average (SMA), before turning lower once again. A breach of ¥110.11 would target ¥108 and the April low.


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USD/JPY update (18th May 2017, 11:00)

USD/JPY pause or more of retracement likely.

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