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  • New York 23:10
  • London 04:10
  • Barcelona 05:10
  • Tokyo 12:10
  • Sydney 13:10

Forex: USD/JPY in a range 98.30 and 98.15

Fri, Jun 12 2009, 19:09 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – USD/JPY has been stable during the American session, moving inside a lateral channel. The range has a support at 98.15 and resistance at 98.30. So far today the pair is up 0.55% for the day.
USD/JPY moved all week inside a bigger range between 97.02 and 98.90.

In case of further dipping below 98.10/00, next support levels are located at 97.45 intra-day low, and 97.25 (Jun 9 and Jun 11 low). On the upside, immediate resistance level lies at 98.40 (Jun 11 high), and above there, 98.60 (Jun 9 high) and 98.85/90 (Jun 8 and 5 highs).


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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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