Stock rally underpinning USD/JPY

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The Nikkei is in the midst of a big rebound. Futures are up 500 points after a 844 point drop yesterday.

At the same time, the S&P 500 continues to climb and is up 1.2% to 1631. Yesterday’s losses have been completely erased.

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

2013-06-13T19:10:54+0000

All|Americas|Market Rumors|Regions

USD/JPY

Adam Button

4 Comments

  1. Hi Adam,

    Would that explain why EURUSD and AUDUSD are staying close to highs?

  2. i think all the pairs are, i’ve been wondering why the USD/JPY was stuck in an overbought territory for about a couple hours in the 5 min chart, so Mr Adam just got the answer, thank you :)

  3. Will interesting to see how we close and levels

  4. I think USD/JPY (now @94.82) will have a small rally and it will roll over after that. USD/JPY will at least test the yesterday’s low 93.78. There are no bottoming signs in place, and my buy level is 93.08. If the pair rebounds from the yesterday’s lows, that will be a sign of the bottom.

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