USD/JPY Update 12/8 16:15 GMT+1 After a nearly ten points decline - TopicsExpress

USD/JPY Update 12/8 16:15 GMT+1 After a nearly ten points decline during the opening time in the US market, the S&P500 index returned to its opening area and is now trading unchanged. Despite the slightly more positive sentiment in the markets, the USD/JPY is still not able to climb higher, however a turn into to positive territory in the U.S. leading indices may give it the right push for it. As of now, an increasing demand in the 96.50 zone is holding the line with some more support around 96.35 and 96.20. Rumors of postponement the local taxes raising might bring an interesting long trade. However, to be cautious, you might want to wait and see whether the pair is able to break the psychological barrier of 97.00.

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