Wednesday, July 28, 2010

USD/JPY Forex Market Moving News by AceTrader

USD/JPY - 87.70.. Despite intra-day strg performance in the Nikkei (N225 currently up by 178 points), dlr has remained under pressure in Tokyo morning after y'day's spectacular rise fm 86.83 to 87.98 in late NY trading as Japanese exporters n Asian names are taking advantage of y'day's rise to a near 2-week high by selling dlr n euro for yen. Short-term specs also joined in the selling as traders cited option barrier at 88.00 (with buy stops abv there). On the downside, buying interest has been raised to 87.50-40 n it shud contain intra-day retreat but dlr needs to take out 88.00 res b4 one can turn bullish for further headway twd 88.50. Earlier, news came out reporting IMF's directors are


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