May 29 (Bloomberg) -- Japan's jobless rate unexpectedly fell to a nine-year low in April and households increased spending for a fourth month, suggesting consumers will help extend the economy's longest postwar expansion.
The Yen might have found a bottom. It's a buy now, the question will be how much against the dollar. If you are trading JPY June futures, resistance is 0.08261, support is now important at 0.8238 after the early test of 0.00833. The Nikkei could also be a buy, after some initial worries about exporters and a stronger Yen. The Yen is so low, that should not be a concern. The real concern for everyone is the US markets and interest rates.
The Yen might have found a bottom. It's a buy now, the question will be how much against the dollar. If you are trading JPY June futures, resistance is 0.08261, support is now important at 0.8238 after the early test of 0.00833. The Nikkei could also be a buy, after some initial worries about exporters and a stronger Yen. The Yen is so low, that should not be a concern. The real concern for everyone is the US markets and interest rates.
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on Monday, May 28, 2007 at 5/28/2007 10:15:00 PM.
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