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Forex: USD/JPY in session lows around 91.30

The Japanese yen is posting solid gains against its American counterpart on Tuesday, in a context dominated by increasing risk aversion and rising jitters after the Italian elections.

The research team at Wells Fargo bank suggested, “the risk-off tone should continue to be supportive of the yen in the near term as markets ebb and flow with the evolution of the Italian political situation”.

At the moment the pair is down 0.41% at 91.42 facing the next support at 90.85 (low Feb.25) ahead of 90.76 (low Jan.31) and finally 90.34 (low Jan.29).
On the upside, a break above 92.75 (high Feb.26) would expose 92.84 (Tenkan Sen line) and then 93.13 (MA21d).

Political uncertainty and strong data keep the USD buoyed

The US dollar has continued to advance versus most competitors on Tuesday benefited by broad risk aversion, although it received a fresh boost after the US economy reported better than expected housing, manufacturing and confidence data. Not even Bernanke's comments supporting the Fed's accommodative stance were enough to prevent the greenback from rising.
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Forex: EUR/JPY finds support at 119.00

The generalized yen strength is driving the cross lower on Tuesday, as risk aversion is reining in the markets. The intraday downside found buying interest in the boundaries of 119.00, recovering some pips...
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