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Forex: USD/JPY takes another fall to below Y91.00

Thu, Nov 5 2009, 02:15 GMT
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FXstreet.com (Sydney) – The USD fell against the Yen trading at 90.57. The USD did not hold on to an intraday high of 91.30. Trend is sideways down where the currency finds support at 89.15 while resistance is at 91.60.

While it is possible that there may be a return to risk, the market remains cautious ahead of major central banks meetings later this week. The FED already has announced that there will be no movement on interest rates while BoJ and BoE consider monetary policy decisions in the next 24 hours. The recession appears all but over in the US as the economy grew at 3.5% last quarter but this may not be sustained amid rising unemployment and tight lending.

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Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

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