Market Moving News: USD/JPY - Feb 16

By IBTimes Staff Reporter | February 16 2010 12:52 AM

USD/JPY - 89.80.. Despite traded sideways with a soft bias in Asian morning, price finally succumbed to intra-day dlr's broad-based weakness n penetrated 89.85/92 sup area, taking out some stops along the way down to 89.71. Selling interest has been lowered to 89.90-90.10 but bids remain at 89.70-50 area, unless yen strengthens on crosses, can't see dlr breaking 89.50/60 in the nr term.

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