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USD/JPY Eases Back to NY Close

By   || March 31, 2011 at 03:08 GMT
|| 2 comments || Add comment

USD/JPY ran out of steam on the topside this morning at 83.22 just ahead of reported keen selling interests at 83.30. For the year end fix, USD/JPY after being bought up beforehand had no where to go after the fix and eased back to 82.77. The pair is currently tracking sideways just above 82.80 at the moment with players suggesting we could see some more profit taking ahead of tonight’s London fix although the worm appears to have turned with players in a buy dip mentality now. EUR/JPY has witnessed a similar pullback after breaking briefly above 117.50 (intraday high 117.54) last trades at 117.18.

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2 Responses to “USD/JPY Eases Back to NY Close”

  1. twitter-fxi on March 31st, 2011 03:18 GMT

    Any information regarding JCT and his G20 mtg going on today by any chance? TYVM

  2. Solange on March 31st, 2011 04:03 GMT

    Good afternoon, Sean. For what it’s worth, AUD/JPY just sunk under its pivot point (85.364) so quickly that it was a non-evident (and, now, it’s really beginning to drop). With still 5 hours to go before the London fix, it would appear that this puppy is aiming for a hard landing at “S1″ (84.944), IMHO. [Disclosure: I am short AUD/JPY - up to my scuppers, as it were - fully intending upon running away (to the bank) prior to Gerry putting in an appearance.]

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