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11 Feb 2013
Forex: USD/JPY consolidating below 93.50
After breaking 93.00 in the European session and touching the 93.50, the USD/JPY is trading in consolidation mode following the latest bullish movement from 92.50. Currently the USD/JPY is trading at 93.25, 0.55% positive on the day.
The USD/JPY needs to break above 93.50 to attack the 93.70 and then retest the 94.00 area. On the other side, 93.00 level seems to be key area ahead of the 92.50 and 92.20.
Not much is expected today, but Japan will be publishing consumer confidence, machinery tool orders and GDP data during the week before Thursday's BoJ monetary policy decision. Given that current Governor Shirakawa is due to leave soon and the most anticipated meeting happened last month, little is to expect this time.
The USD/JPY needs to break above 93.50 to attack the 93.70 and then retest the 94.00 area. On the other side, 93.00 level seems to be key area ahead of the 92.50 and 92.20.
Not much is expected today, but Japan will be publishing consumer confidence, machinery tool orders and GDP data during the week before Thursday's BoJ monetary policy decision. Given that current Governor Shirakawa is due to leave soon and the most anticipated meeting happened last month, little is to expect this time.