USD/JPY TECHNICAL OUTLOOK : 26.08.2016
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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 100.47, with little change from yesterday, reflecting the range bound trade in the US dollar. CPI data reported this morning was below expectations and forces markets to assume further stimulus from the Bank of Japan to prop up inflation. Major moves can be expected after Yellen speech but the pair is likely to settle near the 100.00 mark.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
05:00:00 JPY National Core CPI (YoY) (Jul) -0.40% -0.50%
05:00:00 JPY Tokyo Core CPI (YoY) (Aug) -0.30% -0.40%
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Fundamental Overview
Yen is trading at 100.47, with little change from yesterday, reflecting the range bound trade in the US dollar. CPI data reported this morning was below expectations and forces markets to assume further stimulus from the Bank of Japan to prop up inflation. Major moves can be expected after Yellen speech but the pair is likely to settle near the 100.00 mark.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
05:00:00 JPY National Core CPI (YoY) (Jul) -0.40% -0.50%
05:00:00 JPY Tokyo Core CPI (YoY) (Aug) -0.30% -0.40%