Ramon Ramirez Posted May 9, 2012 Report Share Posted May 9, 2012 FXstreet.com (Barcelona) - Some analysts have been pointing out to a sideways trading range at 79.70/80.07, from which the USD/JPY seems to be having trouble in breaking. Leading Economic Indicators in Japan have risen from 96.0 (revised from 90.3) to 96.6, lower than general consensus of 97.0. Today, the pair was lifted up to 79.94 only to lose it all again towards 79.71. From this support area, the cross is bouncing ahead of the European opening. “We would currently allow for further slippage to 79.15/78.90 (61.8% retracement and the 55 week ma), where we would expect the market to stabilize and recoverâ€, wrote Commerzbank analyst Karen Jones. Quote Link to comment Share on other sites More sharing options...
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