ForexPros Daily News October 7, 2010
ForexPros Daily News October 7, 2010
Forex - USD/JPY tumbles to new 15-year low as intervention sidelined
Forex Pros – The U.S. dollar tumbled to a fresh 15-year low against the yen on Thursday, as the threat of renewed Japanese intervention was sidelined ahead of Friday’s Group of 20 Washington summit.
USD/JPY hit 82.25 during European morning trade, the pair’s lowest since May 29, 1995; the pair subsequently consolidated at 82.39, tumbling 0.64%.
The pair was likely to find support at 80.75, the low of April 20, 1995 and resistance at 83.26, Wednesday’s high.
Japanese intervention ahead of Friday’s meeting of financial ministers and central bankers from the G20 nations would create difficult questions for Japanese authorities, forcing them to explain that they are not just pushing the yen lower to gain a trade advantage against other nations.
The yen was also up against the euro, with EUR/JPY shedding 0.24% to hit 115.23.
Later in the day, the U.S. was to release key weekly data on initial jobless claims.
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Forex Trading Analysis written by Munther Marji for ForexPros. For more information about currency charts visit ForexPros.
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Disclaimer:
Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.
Forex - USD/JPY tumbles to new 15-year low as intervention sidelined
Forex Pros – The U.S. dollar tumbled to a fresh 15-year low against the yen on Thursday, as the threat of renewed Japanese intervention was sidelined ahead of Friday’s Group of 20 Washington summit.
USD/JPY hit 82.25 during European morning trade, the pair’s lowest since May 29, 1995; the pair subsequently consolidated at 82.39, tumbling 0.64%.
The pair was likely to find support at 80.75, the low of April 20, 1995 and resistance at 83.26, Wednesday’s high.
Japanese intervention ahead of Friday’s meeting of financial ministers and central bankers from the G20 nations would create difficult questions for Japanese authorities, forcing them to explain that they are not just pushing the yen lower to gain a trade advantage against other nations.
The yen was also up against the euro, with EUR/JPY shedding 0.24% to hit 115.23.
Later in the day, the U.S. was to release key weekly data on initial jobless claims.
---
Forex Trading Analysis written by Munther Marji for ForexPros. For more information about currency charts visit ForexPros.
---
Disclaimer:
Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.
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