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Risk of a deeper fall below 158 in the EUR/JPY are rising
Earlier today an update here noted how the EUR/JPY had melted in Asian trading today, hitting a low at exactly 158.00. The price action since has seen it push higher from there, but just now it has turned lower again. The repeated failure to get back above 159.50 in more recent trading has now given way to a fall below the 159 handle and closer to 158.50. The risks of a further fall below the Asian low, at 158 appear to be rising and given the pricing dynamics just now that is as much based on the USD/JPY at the moment, as it is on the EUR/USD. Both are right now edging lower. The EUR/JPY is currently trading at 158.63
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