Japan’s BSI Manufacturing
Japan’s BSI All Industry Index came in down -2.4% quarter over quarter for the 1st quarter of 2010, while the Large Manufacturing Index came in up 4.3% quarter over quarter, however much less than the prior rise of 13.2%. Although the USD/JPY pair has maintained a bid in March, it has not been unable to break the 91 handle. A move toward that level would intersect with trendline resistance and a break could lead through the 200 day moving average and toward 2010 (calendar) highs. It is also noteworthy that the pair has found support recently at the intertwined 21 day and 100 day moving averages.





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