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While equities, and especially US indices, show strength today, I take note of the fact that the Yen is still relatively strong, which could be a warning sign that stocks will soon correct lower again. Soon should mean in the next 1-2 days going into the Thanksgiving holiday. USDJPY has retraced a bit from the key 112 area where a confluence of support held it up on Monday. At this point, I'd begin to look for new longs in JPY pairs against USD, EUR and also AUD.
