Forex News: USD/JPY: Dollar Returns Monday's Early Gains
Tue, Apr 26 2011

The Dollar made some progress Monday and rallied beyond 82.00 during the Asia trading sessions, capped at 82.45, and returned to earlier levels yesterday and throughout today. Support is at the current 81.55/60 and further at 80.70. For upward potential, the first level of resistance is found at 82.00 and beyond that, 82.40.

Long-term sentiments seem to remain low, expecting the dollar to give more ground to the Yen. Yesterday's housing data only reinforced this viewpoint. Our advice, be on the Yen side of this trade for the coming months.

Forex News: US Housing Rebounds, Sort of
Mon, Apr 25 2011

US Housing sales rose to 300,000 in March. Good news for the greenback and the US, but far from showing any signs of a true recovery. The number is better than the revised expectation of 270,000 but is a far cry from the figures of last year.

Further research into the report shows that home sales are tending to be lower end, with far fewer expensive ($400,000+) homes being sold when compared to even last year's weak market. So, while some bargain buying is occurring, a full recovery seems quite far off yet.

Forex: Yen mixed against major rivals
Fri, Apr 22 2011

FXstreet.com (Cordoba) - The Yen is mostly unchanged across the board on Friday, headed toward mix weekly results. The Japanese currency is losing momentum in the markets as stocks soared but remains strong against Greenback.

The USD/JPY fell for the second week in a row despite risk appetite and amid a weak US Dollar. The rise of the USD/JPY that started in the market after the pair reached record lows under 80.00 and following G-7 intervention to curb Yen's strength, topped at 85.50 on April 6 and since then it has been moving with a bearish bias.