USD/JPY - US Dollar Japanese Yen Daily Chart 9th April 2009

The dollar yen currency pair is continuing to consolidating nicely between the 100 and 101 area prior to pushing higher in next week’s trading, supported by all three moving averages which are now pointing upwards.  This anticipated move received an extra boost yesterday with the low of the day neatly off the 9 day moving average, a repeat of which has occurred in this morning’s session, suggesting that once trading volumes return to normal we should see a firm bullish trend established.

Items of fundamental news on the economic calendar for the yen to dollar are centred in the US and include trade balance, unemployment claims, import prices and natural gas storage, all of which are covered in more detail on the euro to dollar site.  As with the rest of the currency market trading is extremely tricky today because of the shortened holiday week, but if you feel you must participate look for small longs on an intra day basis using the 5 and 10 minute chart.

If you want to keep up to date with all the latest currency news, live currency charts and fundamental news just follow the links, and if you are looking for an excellent ECN brokers these details are also included.  Finally remember that Friday and Monday are a national holiday in many countries.