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Forex Trading, Market News & Technical Analysis

Forex Trading: Asian Session Recap and Ranges

Posted by Marge Maresca on Jun 16, 2013 10:08:00 PM

While Euro and GBP were contained to 25 point ranges, Usd/Jpy lifted from its 94.20 session low to 94.80.  Yen weakened on the back of The Bank of Japan’s offering to buy a total of Y610 billion of Japanese government bonds; Y110 billion with a remaining life of up to 1 year, Y100billion with a remaining life of 1 to 3 years and Y400 billion with a remaining life of 3 to 5 years.  The BOJ’s announcement has given support to the Nikkei, which is currently up 1.2%. US index futures are rallying in line with the Japanese index.

Aussie extended its recent gains hitting a session high of 0.9620. Short covering appears to have been the main trigger for the move higher after last week’s CFTC data showed Aussie shorts rose last week. 

Ranges

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Margaret Maresca

WorldWideMarkets

 

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