USD/JPY Latest Update

[alessio09]

The Japanese Yen is lower as stocks turned firmer in European markets. All eyes will turn to the Tankan survey which can have large impact on the currency. USD/JPY is still within its trading range 97.00 and 94.50. The neutral bias is fovoured but the the pair will look to equity markets and ankan Manufacturing index for direction. Next level of support at 95.30, followed by 94.50 and 93.84.

[Pinalli]

Thanks for the update!

The US non-farm payroll report is due out today and it is widely expected that the US will shed 363,000 jobs in June, however it is likely that this number will be higher based on the ADP (Automated Data Processing) estimates that the US economy cut 473,000 jobs.

The ADP report is an informal report released by the largest payroll processing service and usually has a good insight into the employment status.

Keep in mind when trading that the US markets are closed on Friday in advance of the US Independence Day celebrations. One other thing to consider is the global political situation in advance of the July 4th US holiday, with North Korea threatening, Al Qaeda hinting and Honduras about to explode.

[Electron]

I think Japan will soon get back and their value of yen will become good soon I hope so.Anyway thanks buddy for the information update.

[mikey109021]

Yeah me too think the same.. japan will get their value back...

[alessio09]

In spite of the world recession Japanese export has been rising.

In June inflation showed 2.3% level. As a result the Yen boosted up by the positive data showed a significant rise versus other currencies. The JPY finished trades against all the majors with a strong jump. The USD/JPY loss around 300 pips to the 94.50 point.

[alessio09]

The JPY always rises during financial crisis because Japan's trade surplus reduces the nation reliance. The JPY also inclined against all other Forex currencies after the Daily Telegraph cited Hartmut Schauerte, the economic state secretary, saying that the leading European economy is preparing measures with the Bundesbank anticipating a new credit crunch wave in early 2010.

[alessio09]

On Monday the JPY appreciated as traders ceased rush to stocks and higher-profit Forex currencies, as traders` attention was drawn to U.S. data later in the day for further signs of an uncertain economic recovery. The JPY tends to gain positions versus all other currencies when stocks around the world produced a fall or when weak economic data reseases a long and uncertain road for world recovery.

[alessio09]

According to technical analysis USD/JPY is in a near term down trend. It is recommended to sell at 94.00 with a target at 92.60 with a stop loss at 94.60 which will be moved to break even once the first target is hit.The JPY fell against the USD by 30 pips. It also fell vs. the GBP and EUR.

[herry_fxhope]

Thank about your information.

[Pinalli]

The Japanese Yen had an overall down day as global stocks recovered from a week of losses. The return of investors to stocks came at the expense of the traditional safe-haven Yen and helped the Dollar rebound from a seven week low in forex online market.

At 10:00Pm GMT, the Yen was down .4% to the US Dollar to 92.53, down .3% to the Euro to 131.98, down .8% to the British Pound Sterling, down 1.1% to the Australian Dollar to 77.22 and down .32% to the Swiss Franc to 87.2.