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Forex: USD/JPY falls on NY session

By FXstreet.com,  August 20, 2012, 10:23:00 AM EDT

FXstreet.com (Barcelona) - A "risk-off" environment felt on the American opening is providing strength to the Yen against the greenback, as American equities open lower and US Treasuries ease.

After a continuing sideways movement over most of Monday trading, the USD/JPY is seen edging lower, below 79.49, down to 79.37 and threatening further losses.

"Initial minor support is projected at 79.40 and key level on the downside is 79.02", wrote Deltastock.com analyst Stoyan Mihaylov, expecting an eventual advance towards 80.10/60 area as the current movement below 79.63 is of corrective nature.




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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