Japanese Yen (JPY)

The Yen rose against other major currencies on speculation that tensions in the Middle East and North Africa will worsen, boosting demand for the Yen as a refuge. The USD/JPY has broken the support level at 82.50, and therefore the momentum is still bearish for the US Dollar. As long as the rate is below 82.50, a short position is preferred. Overall, USD/JPY traded with a low of 82.30 and with a high of 83.42. Japan's Trade Balance showed its first deficit since April 2009. BOJ Yamaguchi told reporters that deflation seems to be easing. No economic data is expected today.

USD/JPY-Last: 82.60

Resistance

82.50

82.80

83.10

Support

82.30

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