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Fujji says that stable forex market is preferable

By   || October 2, 2009 at 03:12 GMT
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Fujii taking again, saying that he prefers a stable forex market and that he will not be bringing up the issue of a stronger Yen at the G7 meeting this weekend.

USDJPY comes off down to 88.20. A mixture of stops and bids have been filled below 89.35. There is more bidding interest ahead of 89.00 with more stops below. Technically, USDJPY is trading below its Ichimoku tenkan line, today at 90.14. This descending tenkan line has been providing resistance on rallies above 90.00 over the past week.

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