Forex: USD/JPY below 80.00 ahead of Greek vote
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USD/JPY
FXstreet.com (Barcelona) - Risk aversion led the USDJPY back below the 80.00 mark as the US election euphoria wears off and traders are reminded that the 'fiscal cliff' is on the way, and the European Commission revised lower the GDP forecast for 2012 and 2013: recession of -0.3% (EU) and -0.4% (EZ) in 2012 and growth of +0.4% (EU) and +0.1% (EZ) in 2013.
The NY opening pushed the pair definitely below 80.00 to print a low at 79.84. The USDJPY has been ranging around 79.90 for the last two hours while the markets waits for news coming from Greece as the Parliament will vote on the budget for 2013 that includes an austerity package of ¬13.5B.
UBS analysts are bullish and expecting a break above 80.68 to open way to 81.49, while support lies at 79.28.
The NY opening pushed the pair definitely below 80.00 to print a low at 79.84. The USDJPY has been ranging around 79.90 for the last two hours while the markets waits for news coming from Greece as the Parliament will vote on the budget for 2013 that includes an austerity package of ¬13.5B.
UBS analysts are bullish and expecting a break above 80.68 to open way to 81.49, while support lies at 79.28.
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