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Dollar Yen

Posted by Joseph Trevisani on Feb 26, 2013 12:11:00 PM

After posting highs near 92.40 on the better-than-expected US consumer confidence and housing data, dollar-yen quickly tumbled as market players sold into the rally, helped by euro pressure on eur/yen and over dollar coverage of the cross sales.


Dollar-yen took out pre-data lows around 91.85 and then the overnight lows near 91.40, with follow through to 91.13 before stalling. Dollar-yen has since seen a modest recovery into mid-day but could not get back above 91.50. Solid demand seen at 91.00 and 90.50 with stops between.

Moving Averages:

14 day 91.89

55 day 93.11

100 day 93.20

200 day 93.35

 

MNI & WWM

 

Charts: Bloombergdescribe the image

eur (2) resized 600

eutjpy resized 600

 

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