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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Sep 26, 2013 12:14:00 AM

A quiet start to the session as worries about the looming budget battle in the US led to a risk averse tone in the markets which saw the US unit mixed to higher -vs- the Antipodean currencies and weaker -vs- the Yen. This changed abruptly midway through the session as apparently reports that the Japanese government is considering a reduction in the effective corporate tax rate propelled USD/JPY higher as it broke through the 99 level.

Ranges: {WWM FlashTrader / 60min charts}(click to enlarge)
092613

 

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