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Increased risk creates a breakout opportunity on the USD/JPY
The market has continued to move in our forecasted direction. The higher quality yielding currencies such as the EUR and USD have been reasonably durable against the commodity currencies. The breakout on the AUD/USD is very close and could be confirmed this week. The USD/JPY continues to trend as the risk bias worsens in the market. The breakout today below 109 triggers a trading opportunity with an initial target near 106. I suspect that things will be fairly quiet tomorrow with US traders out but volatility could still be in play this week and with volatility as high as it is, risk control is paramount. To see the video, click here: [url]http://www.pfxglobal.com/index.php?option=com_content&task=view&id=1298&Itemid=149[/url]