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USD/JPY eyes support by Fri low & Tenkan at 124.31-40

Monday, June 8, 2015 6:24 PM UTC

Japan bids by 125 have been chewed through; pair eyes TrendLine, Fri low & Tenkan at 124.31-40
200-HMA is 124.67. If 124.30 is broken, Japan bids at 124 will be tested next
Much of today's USD/JPY action is an overbought bearish divergence correction
USD under widespread pressure as NFP-driven longs are being stopped out
USD-JPY yield spreads are marginally softer, but broad stocks selling weighs

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USD/JPY eyes support by Fri low & Tenkan at 124.31-40

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