Thread: USD/YEN updates

July 7th,09

The Yen (Usd/Yen) fell 25 pips during the early Asian session, but the move was quickly reversed by the market. For now, the yen is trading close to the neutral pivot point (95.30), a few pips below the Asian open price. On the daily chart, the yen is trading above the 95.00 support area, which previously held the pair for almost a month.

USD/YEN July 13th,09

The Yen (Usd/Yen) gained 50 pips throughout the first part of the Asian session, but then quickly moved back to the neutral pivot point (92.50). On the daily chart, the yen appears to be trading near the lowest value it has touched over the last few months of trading, and slightly above the support trend-line, that has held the pair since 03.30.

USD/YEN July 15th,09

The Yen (Usd/Yen) is trading close to the 93.50 area, an area that has acted as an important swing point over the last few weeks. Most likely, the yen will continue to move side-ways during the Asian session, as investors await the BoJ press conference. On Tuesday, the pair traded flat most of the time, but surged during the late U.S. session, moving together with the S&P futures.

Usd/Yen- 16th July 2009

The Yen (Usd/Yen) declined 40 pips throughout the Asian session, but then the pair surged higher again to test Wednesday’s high. Moreover, the yen is trading just above a support trend-line that holds the pair since 07.13. If the yen breaks lower, it might retrace some of the gains it has posted recently.

Usd/Yen- 17th July 2009

The Yen (Usd/Yen) bounced from the neutral pivot point during the Asian session, and declined some 30 pips lower. For now, the pair is still trading above the 93.50 area, which has acted as an important price point over the course of the last few weeks of trading.