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Alert - 09:40 (CET) - UsdJpy
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The UsdJpy is trading at 91.44, ranging between 90.54 and 91.47, over yesterday's closing price at 90.94. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
As the resistances at 91.30 (January 19th high) was broken, the traders are now watching the next at 92.91 (January 8th high) and 94.63 (January 6th high). The supports are set at 90.00 (psychological), 88.43 (December 19th low) and 87.19 (2008 low).
Right now, we're observing an appetite for high yielders, prompting the investors to sell the Yen safe haven. Remember that they're expecting the governments' bailout plans, around thw world, will be enough to reactivate the economic activity. This way, the Dollar is climbing 0.50% against the Yen.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 70 points, overbought. The average volatility per hour is 130 pips, with the price challenging the upper 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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