Day: December 22, 2012

December 22
2012

Yen Posts Another Weekly Loss, Nothing Surprising

As was expected, the Japanese yen dropped this week Shinzo Abe’s Liberal Democratic Party won parliamentary elections, allowing him to push the Bank of Japan for stronger monetary stimulus. The BoJ did not disappoint those who expected more stimulus, expanding its asset purchase program during the policy meeting this week. Additionally, the central bank pledged to pursue more aggressive accommodative policy in the future. The BoJ did not […]

Read more
December 22
2012

Forex Technical Analysis for Week 12/24–12/28

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2950 1.3046 1.3114 1.3211 1.3278 1.3375 1.3442 GBP/USD 1.5955 1.6053 1.6110 1.6207 1.6264 1.6362 1.6418 USD/JPY 82.67 83.13 83.68 84.14 84.69 85.15 85.69 EUR/JPY 107.23 108.57 109.79 111.13 112.36 113.70 114.92 GBP/JPY 132.70 134.06 135.11 136.47 137.51 […]

Read more
December 22
2012

Yen Ends Friday with Gains as Traders Require Safety

The Japanese yen ended Friday with gains as uncertainty about the future of the United States and the European Union drove investors to the perceived safety of Japan’s currency. US politicians canceled the budget discussion, adding to fears that the fiscal cliff will become unavoidable. Italian Prime Minister Mario Monti resigned, returning attention of market participants to the eurozone and its problems. The resulting atmosphere of uncertainty and worries benefited the yen. Of course, the Japanese currency also […]

Read more