Saturday, August 8, 2009

Dollar / yen uses location bulls

The U.S. currency continues to strengthen its position across the spectrum of the market, in particular, and paired with yen, where the bulls so far managed to win through to a fresh peak session near Y97.80. Couple remains close to the Ofer in this area, and some dealers saw the risks of short-term fixation of profit accounts in anticipation of the weekend, but notes that recent changes to the technical picture, in particular, a breakthrough line of resistance to the maxima of April this year were very positive for the dollar, growth in the coming days, which may continue. So one of the "veterans" the market believes that attempts to reduce the dollar / yen to Y96.50/00 now makes sense seen as an opportunity for shopping, given the potential for the growth of a pair of Y99.15/20 and Y101.50, and perhaps above.

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