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More exporter interest eyed at 90.00

By   || October 9, 2009 at 16:58 GMT
|| 1 comment || Add comment

Japanese exporter offers are rumored on rebounds to the 90.00 level. We would not be surprised if some larger stop-losses are above that level as well. A retest of the 87.10 trend low was seen as a lay-up no more than 48 hours ago and an eventual 80.00 test a high probability event to many.

Now, all of a sudden, US rates are spiking and the market is being forced to re-think. As 10-year yields approach 3.40% after falling to 3.17% just yesterday, traders are wary about USD/JPY shorts. We trade at 89.80 after reaching 89.87 highs.

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Category: All, Americas, Mkt Talk, Regions
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One Response to “More exporter interest eyed at 90.00”

  1. Adje on October 9th, 2009 17:16 GMT

    All I can say is let the Japanese exporters come to join the party. Seen their power before :-) China and Japan tightening? :-)

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