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Alert - 09:50 (CET) - UsdJpy
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The equity markets started to breathe again from the Asian session, after being under pressure for the most part of the week. Now, the markets are speculating that the delicate situation of Citigroup Inc. will be solved by the selling of some of its assets, tranquilisng the stocks of the financial sector. This way, the carry trade gains some momentum.
The UsdJpy is trading at 95.18, ranging from 93.69 to 95.34. The current price is over yesterday's close at 93.69. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
After the strong profit taking in the last session, which allowed the major to break the support at 96.08 (October 29th low), the traders are now watching 94.37 (November 12th low) and 90.00 (key) and 87.95 (July 17th, 1995 low). The resistances are set at 98.07 (October 23rd high), 100.00 (key) and 102.45 (last week's high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 54 points, rebounding from the oversold area. The average volatility per hour is 240 pips. Checking the graphics again, we see that the current price is under the 23.60% (130.80) and over the 0.00% (80.23) Fibonacci retracement lines.
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