KeytoMarkets

JPY remain elevated against EM currencies

Short
FX:ZARJPY   South African Rand/Japanese Yen
With the currency crisis in Turkey, we expect the JPY remain elevated in the coming days, especially against the EM currencies ZAR and MXN.
This morning ZARJPY breaking down the key support levels and fell rapidly. Weekly ceiling placed between 7.777-7.783. Sell at every spike with a target at 78.%-8.0% fib reaction

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