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Yen Finds Support On Pull Back In Risk Appetite

Yen Finds Support On Pull Back In Risk Appetite

2010-07-28 14:12:00
John Rivera, Currency Analyst
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The USD/JPY has fallen back below the 20-Day SMA at 87.65 which could be an opportunity to get long the pair as we have seen other Yen crosses break out to the upside. Declining U.S. interest rate expectations and dissipating risk appetite begs for caution and will keep me on the sidelines till I see a break back above the technical indicator as trend line support near 87.50 could still be tested.

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