Forex: Yen ends weak on a strong note

By IBTimes Staff Reporter | January 22 2010 4:57 PM

FXstreet.com (Córdoba) - The Yen rose across the board on Friday and finished the weak on a strong note. USD/JPY ended below 90.00 at the lowest level in a month. On a wider view the pair has respected a downtrend line coming from June of 2007.

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Global fears about the economic recovery and falling stocks worldwide helped the Yen rise across the board.

EUR/JPY fell for the seventh session in a row accumulating a decline of more than 500 pips. The pair fell on Friday to 126.50, reaching a fresh 9-month low.

GBP/JPY ended with losses for the third consecutive week. The pair broke key support levels and tumbled on Friday to 144.55, one-month low.

AUD/JPY fell 320 pips since Wednesday and so far during in January is having the worst monthly decline in a year.

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