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Midday Market View

European stock markets traded lower Friday, with travel stocks weighing after Britain added more countries to its quarantine list while Chinese data suggested a slow economic recovery.

Midday Key Point

  • Austria reports 282 new coronavirus cases, highest daily count since April.
  • Eurozone Q2 GDP second reading comes at -12.1% vs -12.1% q/q prelim.
  • Major currencies little changed even as stocks stay pressured on the session.

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USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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