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Forex: EUR/USD falls to 1.3050

The Euro has continued with its declines against the Dollar on the Italian election results and after falling around 265 pips from 1.3315, the EUR/USD has posted 1.3050 as fresh lowest level since January 10th.

Currently the pair is trading at 1.3075, 1.10% below opening price action. Next support levels line up at 1.3039 (low Jan.10) ahead of 1.3018 (low Jan.7). On the flip side, 1.3150, 1.3230 and 1.3300.

Forex: USD/JPY falls below 91.00 to Feb minimums

Risk aversion is over the market with equities and risky currencies trading lower on Monday on the back of uncertainty in the Italian election results. The USD/JPY is trading lower too with the pair losing more than 300 pips in the last few hours from the 94.00 area to touch levels at 90.80, lowest since January 31st.
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Forex: Epic falls in all Yen crosses; Hedge funds unwind massive longs

The ongoing epic fall in all Japanese Yen may be explained as a result of alarm, confusion, consternation, fear, hysteria, even terror to no longer hold long Yen positions, with prime brokers, according to Sean Lee, founder at FXWW, "reporting panic selling by hedge funds and CTAs who had built up massive long positions" he says.
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