Intraday Market Thoughts

Archived IMT (2008.11.12)

by Ashraf Laidi
Nov 12, 2008 14:39

Yen accelerates gains after a relatively quite 2 days, dragging USD by 2 yen in less than 4 hours to 96.30, now eyeing 96 yen. Key short term support stands at 95.70. Any reversal is seen encountering pressure at 97.50, followed by staunch resistance at 98.50. USDJPY has closed below 100 yen for the last 16 trading days, the longest sub-100 yen streak since 1995.


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