The pair sunk yesterday, given the decline, for no apparent macro reason, of the US stocks yesterday. Maybe it was just some profit taking going on. This was a move totally unexpected that led our pair under 137 yens per euro. The price could seek 136.25, which is the support of the fibo 23.6 and which contact should define today's developments. A simple contact or approximation (but not getting quite there), could anticipate a later downwards movement. The most likely, however, is a downwards movement, breaking the fibo 23.6 to 38.2.

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