Sunday, January 29, 2017

USD/JPY TECHNICAL OUTLOOK : 30.01.2017

USD/JPY TECHNICAL OUTLOOK : 30.01.2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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USD/JPY. Pair after opening at 114.51 made a high of 115.37 and saw the pair traded with a positive bias but after our market closed the pair gave up its gains and now trading near 114.35 but 114.00 -113.50 is a strong support where 50Dma lies at 113.50 until 112.40 been violated utilize the dips to buy the pair.

Fundamental Overview

Yen is trading at 114.32, reflecting the US dollar weakness in the overnight session. Japanese Retail Sales Data published this morning was below the expectations at 0.6%. Japanese Yen appreciated after the news about the executive order banning immigrants from Islamic countries which triggered a risk off trade and aided demand for safe havens. Expect sideways movement with 114.00 acting as strong support.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:20 JPY Retail Sales (YoY) (Dec) 1.30% 1.70%