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From : FX Daily Hotline: 24 October 2014
Chart of the day: Yen Index falls towards Sept floor


The Japanese Yen Trade Weighted Index reflects Thursday's weakness in its namesake.  Shedding 1.1%, the gauge extended its reaction to resistance at the 200-day moving average.  A sustained push past that line, which would require a move through the overbought mid-October high at 110.39, is needed to offset a further retracement of the recovery from last month's oversold floor at 105.34.


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