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Gold Spikes Above Key Technical Level As USDJPY, Bitcoin Tumble

Courtesy of ZeroHedge. View original post here.

As European markets closed this morning, all bids disappeared from USDJPY and the pair dropped back below 114.00. In its mirror-like manner, gold reflected this tumble and surged above its 100-day moving average over $1280.

As USDJPY rolled over so Bitcoin hit an airppocket at the european close…

Remeber, Japan is currently the most active market for Bitcoin, so one wonders if this is some pre-saging of a general crackdown – despite all signals pointing the other way in Japan.

If you're looking for a catalyst, good luck. Fed'd Dudley was speaking but focused on regulation with no monetary policy comments. No new headlines from Asia/Trump. It seems the closing bell in Europe is all that is needed to panic-buy Yen.

Perhaps it's just a delayed reaction to the chaos in the middle-east this weekend?


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