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Forex Flash: USD/JPY supported by dovish Kuroda words - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank note that implicitly dovish comments from the BoJ´s Kuroda this morning may support USD/JPY on dips in the near term.

However, risk appetite levels and position adjustments ahead of the next BoJ meeting in early April may see the pair consolidate lower in the near term. He feels that any violation of the 94.00 suppor may see the pair seek comfort towards 93.12 and then the 55-day MA (92.67). Moving to AUD/USD, Ng comments that he remains relatively in favor of the AUD with immediate resistance expected towards 1.0480/00.while support may materialize on any dips towards the 1.0400 area.

Forex: EUR/USD kept below 1.2880

Early European weakness sent the EUR/USD lower to 1.2840 before bouncing to 1.2880 after the opening. That area is keeping the market from further gains. For now, the pair remains subdued to the lowest prices in 2013. The French consumer confidence report for March points to a drop from 86 to 84, below the 85 consensus.
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Forex: USD/JPY bounces after kissing 94.00 line

After yesterday’s move to 93.54 low just as Fed’s Bernanke gave his speech, the USD/JPY eventually recovered ground back to 94.00 area and went as high as 94.45. Early European flows invited the pair to test the 94.00 psychological level before engaging in a new upside attempt, currently peaking at 94.36.
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