Forex Signal: USD/JPY Faces Heavy Downside
July 21, 2010 at 14:18 UTC || By Forex Playmaker
The US dollar continues to face substantial downside relative to the Japanese yen, as the pair continues to track the perceived health of the global economy. The yen tends to strengthen against its major counterparts as the perceived health of the economy deteriorates in the eyes of global investors. Ahead of Fed Reserve Chairman Ben… Continue Reading
Daily Forex Signal: USD/JPY’s Yuan Spike to Reverse
June 21, 2010 at 14:29 UTC || By Forex Playmaker
Following news that the People’s Bank of China will end its two-year-old peg to the US dollar, the USD/JPY spiked to a high of 91.47. The move came as the pair finds itself in a medium-term downtrend, which is likely to resume in the very near-term. The USD/JPY is last priced at 90.95, having already… Continue Reading
Daily Forex Signal: USD/JPY Resistance Holding Strong
June 8, 2010 at 20:01 UTC || By Forex Playmaker
The US dollar appears to have topped out against the Japanese yen, if only temporarily, and appears to have downside from present levels. Last priced at 91.35, the USD/JPY failed to breach its short-term resistance level earlier in the session. The next leg down for the pair could easily reach the 90.75 level, after which… Continue Reading
Daily Forex Signal: USD/JPY May Have Reached Top
June 1, 2010 at 17:31 UTC || By Forex Playmaker
The US dollar held strong against the Japanese yen through much of today’s session, though ultimately lost ground as riskier assets were sold heavily into the close. The present market environment, which is decidedly risk averse, continues to favor upside for the yen against its major counterparts. The USD/JPY is especially interesting at present levels,… Continue Reading
Daily Forex Signal: Short USD/JPY
May 18, 2010 at 21:35 UTC || By Forex Playmaker
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