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1 Feb 2013
Forex: USD/JPY reaches fresh 32-month high
The dollar extended gains versus the yen during the American session and before another week ends, USD/JPY touched its highest level since May 2010 at 92.63.
USD/JPY currently trading nearby highs at the 92.55 area, where it records a 0.9% gain on the day, having closed January with a gain of 5.2%, or 460 pips, its fourth rise in a row.
"It appears the bulls have regained control after the NFP shake", says Fan Yang, analyst at FXTimes. "I think the middle of that previous range around 92.10-92.15 is a key area. Staying above shows bullish control, while breaking below shows continuing consolidation, which could be a prelude to some further bearish correction in the short-term".
USD/JPY currently trading nearby highs at the 92.55 area, where it records a 0.9% gain on the day, having closed January with a gain of 5.2%, or 460 pips, its fourth rise in a row.
"It appears the bulls have regained control after the NFP shake", says Fan Yang, analyst at FXTimes. "I think the middle of that previous range around 92.10-92.15 is a key area. Staying above shows bullish control, while breaking below shows continuing consolidation, which could be a prelude to some further bearish correction in the short-term".