Apr 15, 2013
Forex: USD/JPY breaks initial support of 97.95, now down 75 pips at 97.67
The USD/JPY continues to leak lower, breaking initial support near 97.95 (the 9 DMA). The pair has not traded below this key short term moving average since April 4th. Earlier in the session, the pair traded as high as 98.71, but was unable to maintain a bid after China GDP missed expectations and Yen carry trades began to unwind.
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