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14 Jun 2013
USD/JPY dips below 95.50 post-BoJ minutes
FXstreet.com (Barcelona) - With Nikkei index opening today in Tokyo up +2.85% at 12800 after yesterday's -6.35% loss, USD/JPY is last at 95.35, off session highs at 95.82, few minutes after BoJ minutes have been released.
As analyst at Windsor Brokers and contributor at FXstreet.com Slobodan Drvenica notes, “corrective bounce may delay immediate bears, as the price regained levels above 95.00 barrier, with Thursday’s Hammer, to possibly signal stronger recovery.”
“This scenario requires break above 96.00 barrier, to confirm short-term base and allow for stronger rally towards 96.50, 50% of 99.27/93.78 and 97.00, round figure / 12/06 intraday high,” Drvenica said.
As analyst at Windsor Brokers and contributor at FXstreet.com Slobodan Drvenica notes, “corrective bounce may delay immediate bears, as the price regained levels above 95.00 barrier, with Thursday’s Hammer, to possibly signal stronger recovery.”
“This scenario requires break above 96.00 barrier, to confirm short-term base and allow for stronger rally towards 96.50, 50% of 99.27/93.78 and 97.00, round figure / 12/06 intraday high,” Drvenica said.