Online Forex – Early in the New York forex market on Monday (August 16), the forex rate of USD/JPY got an adjustment at a quite low level, and the lowest point it had reached in this forex trading session was 85.20, and so far the cross trading of the forex rate of USD/JPY was around 85.30 in the forex market.
The US NAHB data indicated the US NAHB housing price index in August fell from 14 in July to 13, which was the third slump in succession and it broke the lowest level since March of 2009 which indicated the US property market was still in a quite dim condition in the forex market.
At the same time, the panic emotions of the forex brokers in the forex market towards the suspend of the global economy recovery surged up sharply, therefore the hedging demand for JPY was pushed up high in the forex market.
Technically, when the forex rate of USD/JPY slumped to below the average point for five trading days in the forex market the MACD index red energetic chart would be short, and the KDJ index would change its direction to rise up. But if the forex rate of USD/JPY slumped below the benchmark of 85.00, then the primary slump point would be at 84.50 in the forex market.
The forex rate of USD/JPY was at 85.30/33 at 23:45 Beijing time.
Edited by Laura.