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27 Mar 2013
Forex: USD/JPY rises further to 94.70
FXstreet.com (Córdoba) - The USD/JPY recovered on Tuesday and trimmed Monday's losses. At the beginning of Wednesday's Asian session rose further and reached at 94.70 a two day high. At the moment trades at 94.55/57, unchanged from today's opening price and 10 pips above the price it had at the beginning of the week.
Market attention is turning toward the next meeting of the Bank of Japan that will take place next week. “The market is in a holding phase ahead of the BOJ meeting early next month but the lack of any miracle actions seems to be gradually wearing down the appetite of Yen shorts”, says Sean Lee, analyst at FXWW.
The Yen is holding a bearish bias across the board so far on Wednesday, extending the decline while the US Dollar remains mostly unchanged.
Market attention is turning toward the next meeting of the Bank of Japan that will take place next week. “The market is in a holding phase ahead of the BOJ meeting early next month but the lack of any miracle actions seems to be gradually wearing down the appetite of Yen shorts”, says Sean Lee, analyst at FXWW.
The Yen is holding a bearish bias across the board so far on Wednesday, extending the decline while the US Dollar remains mostly unchanged.