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21 May 2013
Flash: USD/JPY broader trend still is positive territory – TD Securities
FXstreet.com (London) - After a survey of Japanese corporations released by Reuters earlier noted that nearly half of the respondents (48%) wanted USD/JPY to stabilize around JPY100, TD Securities noted that the broader trend in USD/JPY still looks positive.
Their research teams are looking for a test of the 105.00 area soon (61.8% Fibonacci retracement resistance from the 124/75 decline seen since 2007 stands at 105.49). Without supportive fundamentals, however, they do not expect the JPY slide to accelerate significantly over the balance of the year.
Their research teams are looking for a test of the 105.00 area soon (61.8% Fibonacci retracement resistance from the 124/75 decline seen since 2007 stands at 105.49). Without supportive fundamentals, however, they do not expect the JPY slide to accelerate significantly over the balance of the year.