Ikon Forex “USD/JPY refreshed new low point and would further go down”

[laura]

The forex price USD/JPY refreshed the lowest point for one and half month in the market, and a further slumping down space was open.

Early in the Asia forex market on Wednesday (December 29), the forex price of USD/JPY refreshed the lowest point for one and half month in the market at 81.80, and so far it went back to the trading range of 82.30-40.

The forex analyst pointed out the forex price had broken the supporting point at 82.30 in the previous night in the forex market, many forex investors chose to stop loss therefore this forex price fell to the lowest point for one and half months at 81.80. So far the further slumping down space for this forex price was opened, according to the daily chart that MACD and the random index was expected to be short, and if this forex price fell below the average line for 55 trading days in the forex market, later in the forex market it might slump to below 81.00.

This forex analyst also pointed out because of the forex trading at the end of the year was quite dim; the fluctuation in the forex market might be expanded. Sovereign debt crisis in Euro Zone and the position of the US FED on the quantitative easing policy was not quite sure, and all of these would become the advantage condition for another surging up of JPY in the market. It is predicted that fluctuation range of the forex price of USD/JPY was at 81.50-83.00.

The forex price of USD/JPY was at 82.31/34 at 08:12 Beijing time.

Edited by Laura in Ikon Group.