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JPY Daily News
USD/JPY is a One Way Street
Monday, 21 Nov 2011
The USD/JPY continues to move lower following a bout of USD weakness. With the USD/JPY breaking below the 76.80 support level there is little support remaining on the charts to stand in the way of the pair's all-time low.
Since the Japanese intervened in the FX markets on October 31st the USD/JPY has been moving in one direction only. The pair has retraced more than 61% of the gains following the government intervention. Expectations are for the USD/JPY to continue to decline towards its all-time low at 79.55. Resistance will be found back at 76.80 followed by the long term downtrend from 2007 which comes in today at 79.15.
Current Time: 05/26 23:48 GMT
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 11/21 | ||||||||
| 04:30 | JPY |  All Industries Activity | m/m | -0.3% | -0.9% | -0.9% |  | |
