USD/JPY TECHNICAL OUTLOOK : 31.01.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USD/JPY. Pair after opening at 115.07 made a high of 115.11 and saw the pair corrected and made a low of 113.21 and bouncing the pair is trading near a strong supports of 112.70doublwe bottom and if sustain can head higher meanwhile 50DMA comes at 113.70 so the pair likely to trade with volatility in today's session.
Fundamental Overview
Yen is trading at 113.27, reflecting the US dollar weakness in the overnight session. Japanese Household Spending data reported this morning was below expectations. Bank of Japan has kept the Interest Rate unchanged at -0.10% and raised its GDP forecast to 1.4% for current fiscal from its previous forecast made in November, of 1.0% growth. Expect sideways movement with 112.90 acting as strong support.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:00 JPY Household Spending (MoM) (Dec) -0.60% 0.60% -0.60%
5:00 JPY Household Spending (YoY) (Dec) -0.30% -0.60% -1.50%
5:00 JPY Jobs/applications ratio (Dec) 1.43 1.42 1.41
5:20 JPY Industrial Production (MoM) (Dec) 0.50% 0.30% 1.50%
8:30 JPY BoJ Monetary Policy Statement (YoY)
8:30 JPY BoJ Outlook Report (YoY)
8:30 JPY BoJ Interest Rate Decision -0.10% -0.10%
12:00 JPY BoJ Press Conference
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
Yen is trading at 113.27, reflecting the US dollar weakness in the overnight session. Japanese Household Spending data reported this morning was below expectations. Bank of Japan has kept the Interest Rate unchanged at -0.10% and raised its GDP forecast to 1.4% for current fiscal from its previous forecast made in November, of 1.0% growth. Expect sideways movement with 112.90 acting as strong support.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:00 JPY Household Spending (MoM) (Dec) -0.60% 0.60% -0.60%
5:00 JPY Household Spending (YoY) (Dec) -0.30% -0.60% -1.50%
5:00 JPY Jobs/applications ratio (Dec) 1.43 1.42 1.41
5:20 JPY Industrial Production (MoM) (Dec) 0.50% 0.30% 1.50%
8:30 JPY BoJ Monetary Policy Statement (YoY)
8:30 JPY BoJ Outlook Report (YoY)
8:30 JPY BoJ Interest Rate Decision -0.10% -0.10%
12:00 JPY BoJ Press Conference