[Dow Jones] USD/JPY last at 91.18, biased downward, range today so far 91.07-91.81, with pair's decline largely due to position adjustments as many players interested in buying pair when it falls a bit further, likely to prevent pair from falling far below 91, says Brown Brothers Harriman Investment Services senior dealer Jun Kitazawa. "The dollar is falling just because some players who had kept pushing it up now have decided to take a break due to soft stock prices," he says. So after completing moves to square all dollar long positions to take profits, they likely will buy pair again, as no fundamental reason to support JPY-buying, he says.(TMO)
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