Start your Binary Trading income NOW!!!

Sponsored by Nuffnang.com

Thursday, December 07, 2006

USD/JPY: JPY Crosses Firm Despite USD/JPY Selling At Fix

JPY crosses have shrugged off threats of a BOJ rate hike with EUR/JPY recovering from lows of 152.45 overnight to highs above 153.00 this morning in NY, and near the Asian highs. The same was seen in CHF/JPY while AUD/JPY has made marginal fresh highs for the session, rising to 90.60.

However, despite the cross plays, traders report that selling of USD/JPY was seen at the London fix, helping to temper gains and keeping USD/JPY under 115.00. Currently at 114.97, large offers remain at 115.20 followed by stops above that level. More offers are eyed at 115.30 and 115.50 but stops are mixed into those offers, and are staggered as high as 115.65.

No comments: