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JPY Trades Firmer as Stocks Slip again

Posted:02/12/2008 9:25 by Oliver Scott
JPY traded on a moderately firmer footing as the European market responded to broad equity market weakness. The Asian market saw sharp losses, which included a Nikkei fall in excess of 6%, while European markets are under decent pressure early on, with Dow and S+P futures in the red. USD-JPY easily filled in bids at 92.80 and eyes the 92.50 area, with sell stops tipped underneath this level. A move below this area would open up the downside to the previous multi year low at 90.87 from October. click here to return to the top of the page
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