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Thread: Discuss the USD/JPY with a DailyFX Analyst

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#1639 (permalink)

08-07-2008, 12:40 PM

John Rivera John Rivera is offline

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Quote:

Originally Posted by tabimansour

since yesterday's close was above 109.50, i think we're heading to 111 before we start going down for recorrection.

any opinions out there?

Looks like the USDJPY is taking a breather before the next leg up. The $5 billion dollar loss by AIG has sparked some concerns, but the pair is holding steady which could lead to another move higher. Look for next week's U.S. retail sales to be a possible catalyst as early forecasts are calling for a 0.2% increase.

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