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  • No Signs Of A Bounce After USD/JPY Breakdown  0 comments
    May 18, 2012 10:07 AM | about stocks: FXY

    USD/JPY (FXY) has been doing its regular 25-pip shuffle since the 1-cent drop yesterday - no bounce, no retracement.

    The Japanese finance minister jawboned more strongly after the move but the inability to mount any sort of recovery suggests the pair isn't done falling yet.

    The market is set-up for a range trade for the remainder of the day with are located from 79.00/20 with stops below. Offers at 79.45/55. Options expiries at the top of the hour include 79.00 and 79.75 but there is little scope for seeing either.

    http://www.forexlive.com/blog/2012/05/18/no-signs-of-a-bounce-after-usdjpy-breakdown/

    Themes: Currency ETF Stocks: FXY
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