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Is USD/JPY Headed to 85.00?

posted by Avatar fx360 962 days ago in USD, JPY, Daily made popular 962 days ago

USD/JPY probed the 88.50 level in late Asian trade today as exporters continued to hedge their positions and the pair now stands dangerously close to the 87.10 lows made in late December of 2008 which if broken can trigger a test of the 85.00 level sometime in the near future. With the dollar, not yen now the primary funding currency for the carry
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