Asian-Pacific equities jumped on Friday as the Japanese Yen fell following the G7 combined intervention in the currency markets, the 1st within the last ten years. USD/JPY opened in Asia at 78.89 and has traded a wide 78.80-81.90 range to date; last at 81.90.
Markets yesterday rumored that the Bank of Japan and Japan's Ministry of Finance would intervene and they did so today in amazing manner. The involvement came in with the G-7 collaboration with Japan Finance Minister Noda saying the Bank of Japan had started to sell Yen at 0000GMT along with various other central banks within the G-7 would intervene as their markets opened. In 1995 the Bank of Japan took the USD/JPY from 79.75 to above 100 therefore no one should ignore their power.
The move came "in response to recent movements in the exchange rate of the yen associated with the tragic events in Japan," according to the G-7 central bankers and finance ministers. Involvement was a valid step. "It's the only way they can stimulate the economy," said BNP Paribas foreign-exchange strategist Robert Ryan, who considered it as being another avenue for monetary easing.
MT4 Forex Trading Signals read of the EUR/USD: The upper 20-day Bolli Band at 1.4098 is stalling the only currency's advance. However, the large picture has rolled over to a optimistic one. MACD produced a fresh bullish cross this morning, RSI indicates a move higher as it looks up north, while 1.4000 handle is becoming a psychological support. The EUR bulls are targeting the 1.4281 high which was hit on November 4th.
Metatrader 4 Forex Signals view of GBP/USD: The 20-day moving average at 1.6173 was acting like a magnet as identified in our earlier reports and was hit. At this time, it is a major resistance. A failure to break higher may invite sellers who can likely drive the pair back to the low 1.60s. Both MACD and RSI are combating hard to continue in the optimistic territories. A closure today over the 20-day MA will place the top Bolli band at 1.6341 in focus.
Currency Alerts USD/JPY Views For Metatrader Forex Brokers: Technical analysis for this pair does not matter at the moment. The involvement by the Bank of Japan underneath the G-7 banner resulted in a great deal of agony for the shorts which were taken based on the technical picture of the last several days. Having said that, the 20-day MA, currently at 81.91, is capping the topside. A burst above will probably catapult the USD near to 84.00.
Markets yesterday rumored that the Bank of Japan and Japan's Ministry of Finance would intervene and they did so today in amazing manner. The involvement came in with the G-7 collaboration with Japan Finance Minister Noda saying the Bank of Japan had started to sell Yen at 0000GMT along with various other central banks within the G-7 would intervene as their markets opened. In 1995 the Bank of Japan took the USD/JPY from 79.75 to above 100 therefore no one should ignore their power.
The move came "in response to recent movements in the exchange rate of the yen associated with the tragic events in Japan," according to the G-7 central bankers and finance ministers. Involvement was a valid step. "It's the only way they can stimulate the economy," said BNP Paribas foreign-exchange strategist Robert Ryan, who considered it as being another avenue for monetary easing.
MT4 Forex Trading Signals read of the EUR/USD: The upper 20-day Bolli Band at 1.4098 is stalling the only currency's advance. However, the large picture has rolled over to a optimistic one. MACD produced a fresh bullish cross this morning, RSI indicates a move higher as it looks up north, while 1.4000 handle is becoming a psychological support. The EUR bulls are targeting the 1.4281 high which was hit on November 4th.
Metatrader 4 Forex Signals view of GBP/USD: The 20-day moving average at 1.6173 was acting like a magnet as identified in our earlier reports and was hit. At this time, it is a major resistance. A failure to break higher may invite sellers who can likely drive the pair back to the low 1.60s. Both MACD and RSI are combating hard to continue in the optimistic territories. A closure today over the 20-day MA will place the top Bolli band at 1.6341 in focus.
Currency Alerts USD/JPY Views For Metatrader Forex Brokers: Technical analysis for this pair does not matter at the moment. The involvement by the Bank of Japan underneath the G-7 banner resulted in a great deal of agony for the shorts which were taken based on the technical picture of the last several days. Having said that, the 20-day MA, currently at 81.91, is capping the topside. A burst above will probably catapult the USD near to 84.00.
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