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USD/JPY slides amid risk-off move

Written by Arnaud Masset | 2017-08-11 10:46:32 GMT

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From a technical standpoint, USD/JPY already failed to break the 108.84 support twice, there is therefore chances that the pair bounces back towards the 110. From a fundamental standpoint, the risk-off move is gaining traction across the globe, suggesting that the flight to safe haven is not done yet. Asian equities are down around 1.60% in average, while European ones are set to join the move. Volatility is surging with the VIX up to 16.21% and the VSTOXX hit 20.61% this morning. Therefore it would be a wise idea to wait out the storm before betting on a relief rally.

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Arnaud Masset
superforex

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