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Forex Flash: Window still open for the Yen to recover - JPMorgan

FXstreet.com (Barcelona) - According to JP Morgan Global FX Strategist John Normand there is still a window open for the Yen to recover recent losses "as internal 76.4 % retracements at 129.68 in EUR/JPY, at 152.14 in GBP/JPY, at 103.87 in AUD/JPY and at 85.05 in NZD/JPY have not been broken decisively or not been touched yet" he said.

John adds: "As long as that’s not the case, another down-leg towards internal 38.2 % retracements at 119.37 in EUR/JPY, at 141.25 in GBP/JPY, at 75.59 in NZD/JPY and at 95.49 in AUD/JPY can be expected where perfect risk-rewards would be given to re-establish strategic JPY short positions."

Session Recap: USD broadly lower, Gold higher; Aus & NZ closed over holiday

The USD started to selling off across the board as soon as Tokyo opened in the Asia-Pacific while Australia and New Zealand have been closed for holidays. The USD has been rejected from the 83 handle in the spot index, making EUR/USD to print session highs at 1.3062, AUD/USD at 1.0324, GBP/USD at 1.5335, and NZD/USD at 0.8543, while USD/CHF lower at 0.9447, and USD/JPY at 99.31.
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Forex: EUR/USD advancing firmly around 1.3040/45

The upbeat tone in the risk-associated assets is pushing the cross to the upper end of today’s range so far, hovering over 1.3040/45...
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