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The yen with 2.5 years record high against the dollar
By: FS Team - 27-11-2007
0votesUSD/JPY (108.46)
European & US sessions forecast levels: 107.20/109.35
Trend Sessions: European – Neutral/Upward
US – Neutral/Downward
Market Focus: 6:50 PM Retail Sales, Large Retailers\' Sales.
Daily Strategy: Dynamic yen trading in high volumes moves the yen to the record level of 107.21, a record for the last 2-years and half. After that follow strong dollar support and the yen back at the trading above 108.00. For today the forecast is for continue movements of the yen into both directions in very dynamic and speculative trading. The test below 107.21 seems vulnerable level if the dollar continues to suffer by the credit crisis.
Next Analysis: Attack of EUR/USD of 1.4950 in very short time is expecting
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