Forex: USD/JPY posts 94.32 as fresh intra-day high

FXstreet.com (Córdoba) – USD/JPY rose further during the American session reaching a fresh intra-day high at 94.32. The pair is now pulling back to the 94.20 zone. On the upside the next support to consider is at 94.45 (july 16 and 17 highs). The pair is 0.45% above today’s opening price.

Michael J. Malpede, analyst at Easy Forex affirms: “JPY traded mixed initially supported by safe haven flows on news of Al Qaeda linked terrorist bombings in Jakarta and concern that CIT will file for bankruptcy. JPY upside was limited by a statement from Japan’s Tamaki that the USD will remain the world's key reserve currency and intervention cannot be ruled out. Tamaki is Japans currency spokesperson. Trading in the JPY was thin due to Tokyo holiday. The trade showed limited reaction to report that Japan's leading economic indicator was revised down to 76.9 from 77 in the preliminary report.”