USD/JPY TECHNICAL OUTLOOK : 27.01.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview Yen is trading at 114.95, reflecting the US dollar rebound in the overnight session. Japanese core CPI data published this morning was better that expected at -0.2% but nowhere in positive territory, adding to the woes of the Abe administration. With the US dollar poised to trend higher, expect a retest of 116 if US Q4 GDP beats expectation.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:00 JPY National Core CPI (YoY) (Dec) -0.30% -0.40%
5:00 JPY Tokyo Core CPI (YoY) (Jan) -0.40% -0.60%
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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USD/JPY. Pair after opening at 113.32 made a low of 113.03 and saw the pair traded with a positive bias and taking supports near 113.30 levels and reversed as dollar index taken supports near 100.00 levels and bounced and the pair taken 113.30 supports and reversed where 50DMA lies now if sustain above 114.90 can head higher so utilize the dips to buy the pair.
Fundamental Overview Yen is trading at 114.95, reflecting the US dollar rebound in the overnight session. Japanese core CPI data published this morning was better that expected at -0.2% but nowhere in positive territory, adding to the woes of the Abe administration. With the US dollar poised to trend higher, expect a retest of 116 if US Q4 GDP beats expectation.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:00 JPY National Core CPI (YoY) (Dec) -0.30% -0.40%
5:00 JPY Tokyo Core CPI (YoY) (Jan) -0.40% -0.60%