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Alert - 09:45 (CET) - UsdJpy
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WIth the stocks in Asia and Europe starting with the right foot, the Euro is doing the same against the Dollar. The fact that the interbank lending rates in Asia are declining brings tranquility to the credit markets, triggering an appetite for high yielders.
The UsdJpy is trading at 99.11, ranging from 98.22 to 99.64. The current price is under yesterday's close at 98.46. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
The traders are watching the supports at 90.00 (key), 87.95 (July 17th, 1995 low) and 84.97 (June 5th., 1995 high). As th resistance at 98.07 (October 23rd high) was broken, the traders are watching the next at 100.00 (key) and 102.45 (last week's high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 56 points, rebounding from the overbought area. The average volatility per hour is 190 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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