USDJPY stalls at 161.8% Fibo; Rallies to be sold
The dollar came under renewed pressure with USDJPY declining to 15-month lows in Wednesday’s Asian session as liquidation of short yen positions continued amid the break of important technical levels. Dollar weakness supported gold and protected oil prices.
Japanese currency official Asakawa stated that Japan will closely watch whether yen movements had been speculative, although there was little overall currency impact.
Management and risk description
Entry: Intraday – We look to sell at 107.95
Target:105.17 and 104.50
— Edited by Clare MacCarthy
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