Fri, Aug 26 2011, 17:31 GMT |
FXstreet.com FXstreet.com (C�rdoba) - After a short-lived spike toward 77.05 following Fed's Chairman speech in Jackson Hole, USD/JPY lost momentum as the Dollar weakened erasing its post-Bernanke gains. USD/JPY tumbled below the 77.00 level and currently trades around 76.65, having set a 2-day low of 76.47 during the New York session.
The Greenback reversed gains versus the Yen and it is 1.02% below its Friday's opening price. The pair had hit a 2-week high at 77.70 on Thursday but failed to hold above and returned to its last weeks' range.
On the downside, immediate supports could be faced at 76.50, 76.25 and 75.95, while on the upside, resistance levels could be encountered at 76.80, 77.05 and then 77.30.
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Source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=7050c490-4a8f-4b33-b9ad-9b3e07cb2a46
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