Forex: USD/JPY kisses 90.00 despite BIS Caruna remarks
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USD/JPY
FXstreet.com (Barcelona) - Today's USDJPY upside triggered overnight by a number of comments from Japanese officials, including one suggesting that USDJPY at 100 would not be a concern", has brought the price back to the 90.00 mark during the New York session.
On the ropes are reports that BIS Chairman Caruna talked against the agressive easing trend seen lately, saying that it is becoming counter productive and that there is too much pressure on central banks to promote growth and to weaken currencies.
"I think the market may form another descending structure in order to reach a new minimum. After that this correction may be considered completed", wrote Roboforex.com analyst Igor Sayadov, pointing to an eventual target at 92.30 after the second corrective wave.
On the ropes are reports that BIS Chairman Caruna talked against the agressive easing trend seen lately, saying that it is becoming counter productive and that there is too much pressure on central banks to promote growth and to weaken currencies.
"I think the market may form another descending structure in order to reach a new minimum. After that this correction may be considered completed", wrote Roboforex.com analyst Igor Sayadov, pointing to an eventual target at 92.30 after the second corrective wave.
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