Yen Versus Dollar and Pound November 4th

FX Strategy Video > Currency Pairs Analysis

USD/JPY continues to float in the neighborhood of 78, and the latest intervention seems to have pinned the price up here. However, it was admitted the intervention was unilateral, and these moves have a history of failing. Because of this, selling this pair can be done as long as we stay under 80.

GBP/JPY had a bit of a bounce on Thursday as the Pound got a bid in general. However, the pair should follow the USD/JPY on a downward path over time. We are currently looking for selling opportunities just above as we are getting close to resistance.

Published on 3rd of November 2011
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