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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on May 27, 2013 10:50:00 PM

Trading resumed after the holidays in UK and US in an understandably liquidity poor market. USD/JPY, which had been stuck around the 101 level, got a boost as the NIKKEI225 surged higher at the open. The move was quite quick as shorts got squeezed and the pair made its way to 102 before relapsing back to the 101.80 level. The resulting US dollar strength saw the EUR/USD, AUD/USD and GBP/USD all make session lows as they breached 1.2900, 0.9600 and 1.5100 respectively before stabilizing. 

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