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11 Mar 2013
Forex: USD/JPY falls again to the opening price near 96.00
The USD/JPY is failed its attempt at extend the upside again after peaking at 96.20 just ahead of the NY opening and allowing a down move back towards the opening price of 96.04 and the 96.00 mark, by going as low as 96.02.
This month's BoJ meeting minutes will be published at 23:50 GMT and investors might be very interested. Also out will be Japan's BSI Large Manufacturing, Domestic Corporate Goods Price Index and Tertiary Industry Index.
Both 3 and 6-month debt auctions in the US saw average yields falling slightly, from 0.11% to 0.095% and from 0.12% to 0.115%, respectively.
“Friday's impulsive rise reached local peak at 96.60 and current pullback is a corrective one, preceding next wave upwards, to 97.60”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial support at 95.10, followed by the major hurdle at 94.50.