Excerpt from: Forex Forecast
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| August 19, 2008 | | Will the US dollar stall in currency trading against the Japanese yen | While the US dollar appears to be on a role in currency trading, it may be short-lived -- at least in terms of its trading with the Japanese yen.
The dollar/yen forex trading forecast is calling for the greenback to stall in FX trading before the 110.66 level. Bloomberg reports on this dollar/yen forex trading forecast:
A so-called ichimoku chart on a weekly basis shows traders
may halt buying the U.S. currency before it reaches 110.66,
which is a seven-month high set on Aug. 15 and near the lower
end of the ichimoku cloud, he said.
``The dollar's upside should be very limited from this
stage,'' said Umemoto, chief currency strategist in Tokyo at the
unit of Britain's third-biggest bank. | Topic Tags: currency trading Japanese yen, dollar/yen forex trading, dollar/yen trading, forex trading forecast, greenback FX trading, US dollar currency trading, yen forex trading | |
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