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Alert - 16:00 (CET) - UsdJpy under 89.00
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The Japanese currency has kept firm against the US Dollar, under 89.00 during the most part of the European session. As the news are not very good for the equity markets (Microsoft is cutting 5000 jobs), the Yen is gaining 1.12% against the Dollar.
The UsdJpy is trading at 88.47, ranging between 88.07 and 89.55, under yesterday's closing price at 89.49. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The resistances are set at 93.00 (key), 95.61 (December 1st high) and 97.43 (November 25th high). As the supports at 90.00 and 88.43 (December 19th low) were broken, the traders are watching the next at 87.19 (2008 low).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 38 points, rebounding from the oversold area. The average volatility per hour is 260 pips, with the price between the loer and mid range. 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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