The pair U. S. dollar/yen grew due to operation of stop — orders near 93,80, bring into action by Japanese importers purchases. The statements about Toshin loan stocks dilution on Friday also harmed the yen. However, the further pair\'s increase is unlikely, the export merchants are selling it now in order to take maximum profit from the growth, but speculative investors have no fresh purchase motives.
The dollar and the Euro may get another stimulus to grow against the yen, if Japanese trust funds invest money in foreign assets during next week dominated in these currencies. Earlier the funds said to their clients that they will buy foreign assets during this week. This can push the pair dollsr/yen above the level of 95,00 during next several sessions.
But the increase above the key resistance level of 95 throughout the current trading day will make difficult because of a large amount of purchase orders. With the object of dollar increasing above 95 yen some positive factors for the dollar are needed.
Best regards,
Analyst: Vladimir Donin.
