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Forex Discussions
Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 97589, member: 22847"] [B]AceTraderFx Feb 25: Intra-Day Market Moving News and Views (USD/JPY)[/B] [B]Intra-Day Market Moving News and Views 25 Feb 2016[/B] [I]03:11GMT[/I] USD/JPY - ...... Dlr went through a coaster-roller ride in volatile Wednesday session. Price fell initially to 111.64 in Asia before staging short-covering rebound to 112.27 after BoJ Gov Kuroda's dovish comments but only to tumble to a 2-week trough of 111.04 as decline in global stocks triggered broad-based buying of yen and chf on risk aversion. However, rally in the Dow & oil prices in New York afternoon resulted in a ferocious active short-covering in the dlr, price climbed back to as high as 112.21 in Australia, then marginally above there ahead of Tokyo lunch break. The fact that USD managed to hold above February's 15-month bottom at 110.99 and staged a sharp bounce from 111.04 yesterday, suggesting further choppy sideways swings above 110.99 would continue and as long as global stocks continue to move sideways, then one can expect another try to the upside side in next few days. Bids are noted at 111.90-80 and more below and a mixture of offers and stops is reported at 112.50/60 area, suggesting buying USD on dips is favoured today. [/QUOTE]
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