Thursday, November 24, 2016

USD/JPY TECHNICAL OUTLOOK:25.11.2016

USD/JPY TECHNICAL OUTLOOK:25.11.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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USD/JPY. Pair after opening at 112.75 and made high of 113.90 continuing with the upward trend as key resistance at 112.40 has been comfortably taken out. Expect some resistance near the 114.00 mark but the thin trading volumes in the markets could help the slide in Yen. Nest resistance at 114.27 with a support at 113.00.

Fundamental Overview

Yen is trading at 113.64, moving by another 100 points as the US dollar continued with its accent. Inflation data reported this morning was in line with expectations but a continued slide for the last four month added to the negative sentiment of the Yen. Yen continued to remain a sell on rise in the current environment as the dollar remains bid.