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Alert - 09:35 (CET) - UsdJpy
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The UsdJpy is trading at 88.98, ranging between 88.75 and 89.25, under yesterday's closing price at 89.05. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the resistances at 93.00 (key) and 95.62 (December 1st high) were broken, the traders are watching the next at 97.43 (November 25th high). Aas the support at 90.00 was broken, the traders are also watching 88.43 (December 19th low) and 87.14 (December 17th low). Remember that the pair bas been rebounding from yesterday's low at 88.79.
With the continuous decline in stocks, due to the negative corporative results in the fourth quarter, the Yen has advanced against a basket of currency, where the Dollar is included. This way, the Japanese safe haven climber 0.16% against the greenback.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 44 points, after being oversold. The average volatility per hour is 100 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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