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Forex: JPY crosses higher on BoJ comments

By FXstreet.com April 19, 2012, 12:04:00 AM EDT

FXstreet.com (Barcelona) - JPY has been on the offer today in Asia-Pacific following better than expected Japan trade balance showing a +5.9% increase in exports on a yearly basis, and committed words from BOJ Shirakawa to powerful monetary easing, right after the balance figures, taking USD/JPY to yesterday's highs 81.50, and GBP/JPY to fresh 8-day highs 130.69, while EUR/JPY to 4-day highs 106.99.

GBP/JPY rises a +1.32% since yesterday's Asia-Pacific open, while EUR/JPY does so by +0.64%, both of them now retreating to 130.55 and 106.84 respectively, while Nikkei index keeps trading below the 9600 points figure once back from lunch break, losing some -0.74% for the day. Gold is down to $1640 near day lows.

Resistance to the upside show at recent highs and April 03 highs 130.70 for GBP/JPY while for EUR/JPY does so at session highs 107.00. For the downside, immediate support for GBP/JPY show at recent session and March 22/23 lows 130.04, while for EUR/JPY lie at April 06 lows 106.50.




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

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