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Nikkei opens -0.6%
JPY crosses are slipping a little as traders book profit on longs taken before the slew of economic data. Overall though the market remains very quiet.
Japan’s big manufactures see USD/JPY rising somewhat
Perhaps a bit of wishful thinking on their part and as we know, the market does what it can to stuff the most people! That’s Murphy’s law. Nevertheless, a survey of the big manufacturers see USD/JPY averaging 94.50 for FY 2009/2010. This would mean that USD/JPY would have to stop falling and allow the 200-day MA to stabilise and flatten out around that level.

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