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Japan’s Economic Minister Hayashi (USD/JPY)

Written July 2, 2009 at 8:18 PM EST by Alex Chernomordin 

Japans Economic Minister Hayashi commented that the US economy has not yet bottomed out and that it demands further vigilance. He had this comment to open the Tokyo trading day and quickly rallied the Yen against the USD to session lows as the Nikkei opened down over 1.5%. The USD/JPY pair is approaching our daily trendline support below.

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