Wednesday, October 17, 2012

USD/JPY : Technical Analysis

USD/JPY is consolidating with bullish bias after hitting six-day high of 78.86 on Monday. The rate is underpinned by reduced safe-haven appeal of yen and yen-funded carry trades as global risk sentiment improves (VIX fear gauge eased 5.39% to 15.27), Wall Street gained overnight (S&P up 0.81%) on stronger-than-expected 1.1% rise in U.S. September retail sales (vs.

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