JPY Talk

From the FXWW Chatroom: Bids appearing in toys into 112.00 but note 111.99 the 38.2% of the 101.20-118.66 move and a break below targets the larger July Dec retrace at 111.12 and the base of the ichimoku cloud at 109.93. Reuters had an interview with former Jpy head Sakakibara (similar comments expressed on 31.1) http://www.cnbc.com/2017/02/06/reuters-america-interview-japans-mr-yen-says-dollar-could-fall-below-100-yen-by-end-2017.html – Even if yen rises are rapid, Japan cannot intervene as doing so will not be supported by the United States. Only a break back above 112.45-50 negates the downside.

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