FXstreet.com (Jakarta) - The USD/JPY fell sharply today, pressured by decreasing risk appetite as equity and commodity prices declined. The pair is testing support in the 98.50 area. If the support is broken, the pair may fall to the 97 area.
Still, the trend is up. We believe the USD/JPY will rise as the Japanese economy deteriorates further and Japanese investors look for higher returns abroad, said Hans Nilsson, analyst at CMS Forex.
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