USD vs JPY - Daily Chart 11th June 2009

USD vs JPY - Daily Chart 11th June 2009

The yen to dollar currency pair continues to trade in a world of its own with yesterday’s up bar reversing the down bar of Tuesday, and trading at present could be likened to a flip of a coin, and with about as much chance of success.   Until we see a break above 102 or below 94 (and the former seems more likely at present) then we should continue to stay out of this pair if and until one of these occurs.

The overnight fundamental news on the economic calendar for the Japanese Yen centred around final GDP numbers which came in for the quarter at -3.8% against a forecast of -4%, marginally better than expected with the GDP Price Index showing a similar pattern with an actual of 0.9% against a forecast of 1.1%.  All the other items of fundamental news for the US dollar are covered on the Eurodollar site.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.