Forex Alert: USD/JPY Trading Positively at 79.50/53

on Nov 13, 2012
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**USD/JPY Ups and Downs**

iNVEZZ (New York) 13:45 GMT. On Monday, the USD/JPY traded within a narrow 30 pip range. The currency pair appreciated from 79.35 to 79.64, not matching the negative money flow sentiment at around -16 per cent and closing the day at 79.47. This morning, during an early European trading session, however, the USD/JPY fell to 79.21, erasing yesterday’s slight gain. The downwards movement was triggered by weak European data and fresh concerns over Greece’s debt crisis. Yet the pair gained ground, climbing to their intraday maximum of 79.66. Most recently, the USD/JPY rally has eased and the pair started trading positively at the level of 79.50/53 – up a slight +0.03 per cent.

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**Factors to Watch in Afternoon Session**
During the rest of the day, data particularly relevant for the USD/JPY is not expected. Yet, a late series of announcements may affect today’s trading. Factors to watch include the US Monthly Budget Statement, which is due to be released at 19:30 GMT. At 20:00 GMT, a speech of Janet Louise Yellen, a member of the US Federal Open Market Committee (FOMC), is another event forex investors may wish to pay attention to.

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