Yen slumps as USD and cross buy stops are tripped.
Buy stops were tripped up through 82.00, 105.10, 85.10 in the USD/JPY, EUR/JPY and AUD/JPY respectively, in what traders are saying are thin market conditions ahead of the Thanksgiving holiday tomorrow in the US.
There’s a barrier sitting up at 82.50 in USD/JPY with offers protecting in front from 82.30. High so far has stalled at 82.26just ahead of the 76.4% retracement of the March/June fall @82.27).
EUR/JPY’ s hit fresh highs of 105.24 and more offers await towards the May 4 highs of 105.55.
AUD/JPY blasts up to 85.34 after tripping additional stops through 85.30 with next point of reference being the April 4 high of 85.58
Current levels- 82.20, 105.10 and 85.25