Forex | Forex | Forex: USD/JPY rises above 96.30 to 96.47 (30/06/2009 14:42:00)

Forex: USD/JPY rises above 96.30 to 96.47

FXstreet.com (Córdoba) – Dollar is extending gains across the board. Against the Yen has climbed above 96.30 rising to a fresh intra-day high at 96.47. USD/JPY has been able to stay above 96.30 in the last hour and remains near the highs. So far today it has risen 0.36% from the opening price. Greenback is accumulating an increase of more than a hundred pips after bottoming at 95.25 during the Asian session.

Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets, express that the near-term outlook for USD/JPY is neutral with price locked in a 95.00 to 96.70 range. But he sees a downside potential in longer-term chart, with a possible target at 94.30.


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