Action Insight Daily Report Yen Broadly Higher, Risk Aversion Back? The Japanese yen is broadly higher today following weakness in the stock markets, in particular with Nikkei Down 2%. EUR/JPY led the fall in yen crosses for some time and is now joined by USD/JPY and GBP/JPY. Technically speaking, firstly, USD/JPY has reached the target of 104.96/108.59 resistance zone already. Loss of upside momentum is seen in the rebound from 95.77 and the pair is now pressing a near term channel support.
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Friday, May 9th, 2008 at 11:11 am
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