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Forex trading: Asia session recap and ranges

Posted by Akhilesh Ganti on Apr 11, 2013 10:53:00 PM

An extremely uneventful Asian session to start the last trading day of the week. USD/JPY made another attempt at breaking through the 100 level but was thwarted again as the rumored barrier protection held. The pair sold off to the 99.50 level and now the market waits to see if comments from Kuroda, expected a bit later on, can provide the fuel to breach 100. So far this week, the Japanese currency is down by at least 2 percent against all the majors, with the biggest decline of over 4 percent coming versus New Zealand dollar. The Euro was stuck in a 20 pip range as it traded around 1.3110. A bit later on the US retail sales report will be released which, if it comes in weaker than expected, could see the EUR/USD push through the 1.3140-50 level.


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