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Alert - 09:35 (CET) - UsdJpy
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The equity markets started the day on the right foot in the European session, influenced by the expectations that the US Congress will approve the bailout plan to the auto sector, that is bordering bankruptcy. It is estimated that the $15 billion aid plan will be enough to save the world from a deep and prolonged recession. This way, the investors have let go of the Japanese safe haven, which has lost 0.69% against the Dollar.
The UsdJpy is trading at 92.69, ranging from 92.08 to 92.89, over yesterday's closing price at 92.13. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the supports at 96.08 (October 29th low) and 93.56 (November 20th low) were broken, the traders are watching the next at 90.93 (October 24th 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 90 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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