USD/JPY OUTLOOK : 29.08.2016
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USD/JPY. Pair after opening at 100.29and made a high of 99.91 and was seen buying pressure, the pair had bottom out and made a low of 98.98 and from there the pair had reversed and now trading near its 08Dma 102.35, the pair is not able to go below 99.levels and that has emerge as a strong support so any trade above 100.50 is a breakout buying in the pair
Fundamental Overview
Yen is trading at 102.00, depreciating against the US dollar on Friday. Apart from the hawkish comments from US FED members, bank of Japan’s governor Kurodo continued with the promise of additional stimulus and this led to a sharp depreciation of Yen. We expect the Yen to continue depreciating going into the non-farm payrolls data on Friday.
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USD/JPY. Pair after opening at 100.29and made a high of 99.91 and was seen buying pressure, the pair had bottom out and made a low of 98.98 and from there the pair had reversed and now trading near its 08Dma 102.35, the pair is not able to go below 99.levels and that has emerge as a strong support so any trade above 100.50 is a breakout buying in the pair
Fundamental Overview
Yen is trading at 102.00, depreciating against the US dollar on Friday. Apart from the hawkish comments from US FED members, bank of Japan’s governor Kurodo continued with the promise of additional stimulus and this led to a sharp depreciation of Yen. We expect the Yen to continue depreciating going into the non-farm payrolls data on Friday.