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Yen Strength Shows Itself in EUR/JPY and especially GBP/JPY

Posted on March 27, 2009 at 2:37 in Commentary, Market Analysis by Tim Salem

Greetings Everyone!

As promised, here is an Update coming off of our last Post about 5 hours ago… and my thoughts on the “Rhetoric” we spoke of earlier now has a bit of supportive evidence with Current Yen Strength and Sentiment.

We can view these Corrective Behaviors two ways, really… As supportive evidence that either The Yen is not quite ready to retire… or as part of the Integrity as a Pullback in our Trend and resumes being “Carried” ( as in Carry Trade…) in the Medium-Term View.

While we are early in the European Session… let’s have a check with EUR/JPY as well as GBP/JPY… as the Pound Yen Cross shows even more Yen clarity.

Both Captures are the Hourlies, so give the a Click… and Post-Time is 7:40 GMT.

Of course…We will stick with these Crosses throughout today and even check in with their EUR/USD and GBP/USD “Cousins” as well!

Tags: England, EUR/GBY, EUR/USD, euro, Euro Yen, Europe, GBP/JPY, GBP/USD, Japan, pound, pound yen, Yen

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