details over U.S Bailout plan might further risk appetite

Despite worse than expected unemployment report last Friday, U.S stocks continued to rise and with them the selling of save haven currencies as Investors await in expectation for the Obama’s administration plans.

This Tuesday, the Treasury Secretary Timothy Geithner is scheduled to outline aid measures over the bailout plan. The market is clearly focused on the financial-rescue package and any hopes or expectations will likely stimulate Yen selling during this week.

USDJPY – Opened lower this Monday, but maintains its bullish form, the first resistance level is 92.2
a clear break above might lead us to the next resistance area around 94 in a few days time.
The pair will maintain bullish sentiment for as long as it is trading firmly above the major support area  90. Watch out from high volatility which can create temporary false breaks.

Z.Georgi

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