In currency trading the Asian session today (27-05), the Yen looks slightly weaker against the U.S. Dollar. Pair USD/JPY is currently engaged in the range of 90.05.
This morning has just released the Japanese trade balance data for the period April 2010 which recorded a surplus of about 730 billion yen, higher than previous estimates of 690 billion yen.Japanese exports reportedly increased during five consecutive months.
Japan’s economic recovery continues to be encouraged by the growing exports improved. Noted Japanese exports in the month of April 2010 increased by 40.4% compared with same period last year and increased by approximately 2.3% compared with exports in the month of March 2010. Both technical USD / JPY is still finding strong support at around 89.00 to 88.00 today, although Japan still require a weak yen, debt crisis in Europe create a safe haven asset is difficult to weaken.
USD / JPY rose to the level of opportunity through resistance at 91.15 if the 90.60 level. Weakening U.S. Dollar against Yen can occur if the past level of support at the 89.00 level to 88.00.
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