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Usd/Jpy comes under renewed pressure

By   || June 9, 2009 at 12:27 GMT
|| 2 comments || Add comment

Usd/Jpy is attracting some selling interest currently, with 98.45 capping this morning’s rally, attention is now turning to the downside.  US Yields are little changed from yesterday, a tad lower if anything, but Traders are looking to probe some sell stops located in the 97.75/80 area. Note too that the Japanese Retail FX market were short the Yen crosses as of Friday, but it seems a sell rallies mentality pervades, with exporters seen on the offer.

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2 Responses to “Usd/Jpy comes under renewed pressure”

  1. Dennis Yanez on June 9th, 2009 12:50 GMT

    FYI Mark:

    GS recommendation –
    “We would go long EUR/$ with a stop on a close below 1.3720 for an initial target of 1.45. “

  2. Mark Mitchell on June 9th, 2009 13:14 GMT

    Cheers Dennis,

    I hope that they have more luck with this than there recent trading recommendations in Bonds and Bunds.

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