US Dollar vs Japanese Yen - Daily Candle Chart 6th August 2009

US Dollar vs Japanese Yen - Daily Candle Chart 6th August 2009

There is very little I can add to any of my previous comments for the yen to dollar currency pair other than it continues to thrash around in the 94 to 96 price band and shows little sign of finding any direction in the short term.  Indeed last week’s close of a classic doji candle was symptomatic of a market looking for a direction.  With no fundamental news on the economic calendar for Japan we must turn to the US where today sees the release of the weekly new unemployment claims, a taster for tomorrow’s highly anticipated NFP data.  In addition general market mood appears to be wavering in its love affair with riskier assets and should this mood solidify and translate into a major sell off in the equity markets then perhaps we may see some action in this pair.

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