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Story Behind USD/JPY Meltdown

posted by Avatar fx360 1053 days ago in USD, JPY, Technical

The biggest story in the currency market today is the meltdown in USD/JPY. The U.S. dollar fell to a four month low against the Japanese Yen, driving all of the yen crosses down with it. Although liquidation out of EUR/JPY and GBP/JPY may have contributed to the move, when USD/JPY broke below 93.50, the sell-off quickly gained momentum.
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