Forex: USD/JPY retesting 92.70 lows on Amari headlines

The Japanese economic minister Mr. Amari is speaking to reporters in Tokyo, and so far his comments have cost the USD/JPY to pare most of the gains built in the past few hours. USD/JPY is near lows at 92.70. Valeria Bednarik, chief analyst at FXstreet.com, earlier said the short term outlook remains cautiously bearish.

Coincidentally or not, the USD/JPY was rejected off the 20EMA on the hourly chart before Amari said the government has no target for the stock markets, also adding, as covered earlier by FXstreet.com editor Ivan Delgado, that Abe is now starting to focus most of his attention on picking the next BoJ governor candidates. At the moment, the two main front-runners are Mr. Iwata and Mr. Muto.

Feb 15, 2013

Forex Flash: AUD/NZD to as low as 1.15 - TDS

With AUD/NZD currently near fresh 2.5-year lows around the 1.2160, Singapore based TD Securities analyst Alvin Pontoh believes, “From a fundamental perspective, the lower AUD/NZD trend could extend all the way to as low as 1.15, as we expect a historic convergence of benchmark rates by the end of this year (at 2.75%),” Alvin suggests, concluding: “This is the reason why we called 2013 to be ‘The Year of the Kiwi’, back in December.”

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Feb 15, 2013

Forex: EUR/JPY downside incomplete; room for 123.35/50 and even lower - FXA

Eur/yen looks like its rolling over, says David Solin, partner at FXA, suspecting that the short term downside pattern from Feb 6th high at 127.70 "is not complete", and he expects now "declines back to last week's low at 123.35/50 and even below."

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