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Forex: USD/JPY falls to test 99.00

FXstreet.com (San Francisco) - After falling around 75 pips in the last two hours from the 99.75 region, the USD/JPY has broken the 99.50 level to test the 99.00 frontier. Currently the pair is trading at 99.15, 0.69% down on the day.

The USD/JPY is trading slightly bearish in the 15-minute timeframe according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are bearish while the Stochastic is bullish in the 15 minutes chart too.

Below the 99.00 support, next levels are at 98.65 (200 hours MA) and 97.95. Resistances are at 99.35, 99.65 and 99.90.

Forex: GBP/USD capped at 1.5257 after US existing home sales

The GBP/USD printed new highs today despite the narrow range as the market was trading the release of both US housing and EMU confidence. The first disappointed the market and the latter surprised on the upside. The pair was capped at 1.5257 high and profit taking has brought the price to 1.5240/45, as of writing, still above Friday’s close of 1.5230.
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Forex Flash: NZD vulnerable to downside surprises on global growth – BNZ

According to the BNZ Research Team, “Market positioning shows the NZD is particularly vulnerable to any downside surprises on global growth and risk aversion flows. Our momentum model suggests momentum accounts are long NZD, with 0.8378 being the level at which these positions will be ditched.”
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