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Forex: USD/JPY recovers after setting fresh low

FXstreet.com (Córdoba) - The USD/JPY took another step lower and printed a marginal new low for the day as another wave of risk aversion hit the markets at the beginning of the NY session.

USD/JPY set a daily low of 97.45 but quickly found support and bounced slightly. At time of writing, the cross is trading around 97.80, still up 0.3% on the day.

From a technical view, Valeria Bednarik, chief analyst at FXstreet.com, notes that overall stance remains bearish in 4-hour chart. "Price needs now to break below 97.30 to confirm a bearish continuation, with 96.50 area then at sight", says the analyst.

Forex: AUD/USD trades below 1.0300 for second time this week

After declining 80 pips since the 1.0375, reached in the European session, the AUD/USD has broken down the 1.0340 previous intra-day low to test the April 15 low at 1.0290.
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Forex Flash: BOJ plan not significantly more aggressive than Fed’s QE - Nomura

Richard Koo, Chief economist at the Nomura Research Institute notes that the BoJ plan is not significantly more aggressive than the Fed´s QE and using this concept of the statutory reserve deposit multiple, the BOJ’s new policy would lift potential growth in the money supply, and therefore inflation—from 4.8x to 18.7x.
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