USD/JPY Holding Strong Above Key Moving Average

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USD/JPY Holding Strong Above Key Moving Average

By Greg Michalowski on April 2, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The JPY is softening up across the board as risk appetite is evident in the Forex market. The major European equities are at session highs as is the USD/JPY, currently at 99.32. Yesterday (Wednesday), we saw the 200 Day Moving Average tested but the USD/JPY was unable to breach and run north of the indicator as US auto bankruptcy fears softened up the pair.

Today, thanks to the risk appetite, the pair is currently holding strong above this key moving average.

jpy-4-21

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