Forex: USD/JPY edges higher on Tuesday

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FXstreet.com (Barcelona) - Now with Japan back from holiday, the USD/JPY experienced higher volatility, tumbling to 78.26 low in early Asian session before edging higher and print a high at 78.43. Since then, the pair eased a little, to 78.36/37, where it quotes at the moment, up by +0.10% on the day ( GMT ).

Japan's service sector sentiment dropped from 43.6 to 41.6 in September and the trade BOP basis deficit rose to
Y644.5B in August. BoJ's Shirakawa said that stable high growth gives confidence to take more risks, which imbalances the financial system.

"Until we see a confirming close above the cloud resistance (79.27), which has held the market lower for 6 months now and preferably a close above the 200 day ma at 79.35, we must allow for further consolidation and possible stabs lower", wrote Commerzbank analyst Karen Jones.



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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