Currency Market News
Despite a brief peek above 98.00 to a high of 98.02, the USD/JPY has again drifted lower to be back below 97.90 once more. Given that the range for the past couple of hours has been 97.80/00 i can’t see it running too far on the downside. The USD/JPYis very well bid but there seems to be an immovable object currently camped at the 98.00 level.
The EUR/JPY continues to hold above the 125.00 level and a consolidation above this level would open the way for a move to 130.00.
