USD/JPY: Forms New Local Minimum
Masterforex-V | Jun 27, 2014 05:42AM ET
According to experts of the Forex market, the index of the Tokyo Stock Exchange Nikkei rose by 41.88 points (+0.27%) and closed at 15308.49. Yields on 10-year Japanese government bonds is 0.571 (fell compared with the previous close at 0.007). Hong Kong Stock Exchange Hang Seng rose 244.40 points (+1.07%) and is located at 23111.10.
The EUR/USD was established in the Asian session within 1.3625-1.3639. GBP/USD is in the range 1.6979-1.6994. The USD/JPY has stabilized near the mark of 101.75. Investors' activity is relatively low.
NZD/USDrose nearly 50 points to the level of 0.8774, the highest in the last six months, says the experts of Forex. Dealers noted that support for the "commodity" currencies has rising prices for oil and precious metals, as well as expectations of an increase in interest rates in New Zealand.
During today's trading, the dollar weakened against the yen, with USD/JPY fell to 0.11%, to 101.75, near two-week low 101.61 reached on Wednesday. The euro was almost unchanged against the yen, with EUR/JPY was trading at 138.78.
USD/JPY: experts advise to keep previously open short positions
As reported by analysts Forex Broker Company "Pantheon Finance," the pair USD/JPY on June 26, confirmed the completion of patterning a 5-3 formation, and the price has formed a new local minimum . It is likely that at the current time is in full swing development out of the triangle, the purpose of which may be equal to 100% the height of the triangle. Therefore, it is still recommended to keep the previously open short positions in growth rates continue to steadily build positions with the objectives 101,00-100,50 and protective stop orders for losses place the level of 102.20. Also be appropriate to the level of the breakdown of confirming translate protective stops in b / y, as clarify analysts of the Forex company "Pantheon of Finance" (included in the Top Rated Forex Brokers of the Masterforex-V World Academy).
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