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USDJPY: Familiar Range Continues to Hold

USDJPY: Familiar Range Continues to Hold

2011-12-05 09:40:00
Ilya Spivak, Sr. Currency Strategist
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Strategy: Flat

USDJPY continues to trade in a choppy range below 78.87 – a former support dating back to March at the time of the Tohoku earthquake and the year’s first intervention – with support loosely defined by the Ministry of Finance’s subsequent actions around in the 76.00 figure. We see no compelling trading opportunities here for now and will remain on the sidelines.

USDJPY_Familiar_Range_Continues_to_Hold_body_Picture_5.png, USDJPY: Familiar Range Continues to Hold

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

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