More from FXstreet.com

Forex: EUR/JPY loses 118.00 handle back to daily low

By FXstreet.com,  January 11, 2013, 07:42:00 AM EDT

FXstreet.com (Barcelona) - The EUR/JPY made an absurd upward movement of 350 pips yesterday, with the rally from 118.00 mark to 118.59 high on Japan's current account deficit being the cherry on the cake.

Throughout the Asian session, the market retraced Yen weakness on Japan's data and moved back to 117.68 low. Since then: another upside to 118.21 and another fall back to its daily lows.

Commerzbank analysts were targeting 117.90 (June 2011 high), which was reached, but unlike expectations, the market hasn't been taking profits: "None has been seen so far and we will give the upside the benefit of the doubt for now", wrote analyst Karen Jones, pointing 123.33 (2011 high) next.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



Latest News Video

Iowa Veteran Gets His Diploma 72 Years Late
Iowa Veteran Gets His Diploma 72 Ye...
Tanker Crash Puts Damper on New Highway Lane Opening
Tanker Crash Puts Damper on New Hig...
Abercrombie Announces Plummeting Sales Amid CEO Controversy
Abercrombie Announces Plummeting Sa...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.24 0.03  0.23%
FB $ 24.32 0.74  2.95%
SIRI $ 3.58 0.04  0.99%
GE $ 23.53 0.13  0.55%
PFE $ 29.04 0.07  0.24%
MSFT $ 34.27 0.12  0.35%
INTC $ 23.93 0.12  0.50%
P $ 16.43 0.73  4.25%