The Currency Converter

Janapese Yen: A weaker Yen has helped Japanese shares

December 3rd, 2010

Weaker Yen this week has helped Japanese shares prevent sharp losses but the upward momentum for USD/JPY has to be supported by some good news from Europe, suggested by fundamentals. USD/JPY tends to fall further during the European trading sessions and the market is preparing itself for more bad news from Portugal or Spain, likely in the coming days. The pairing may only have a brief stop near 83.75 and looks good top stay form around this price throughout today. A strong showing of economic data could rally in favour of the dollar and push rates towards the 84.70 resistance level. This could be a long time coming, however as we await the non-farm payrolls in the US later today.

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