USD/JPY TECHNICAL OUTLOOK - 05.10.2016
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USD/JPY. Pair after opening at 101.62 and made high of 102.96 and was trading with positive bias and a strong session yesterday but now pair is near the trend line resistance and 103 is having a strong resistance and ait can revert from that levels so utilize the levels to sell the pair
Fundamental Overview
Yen is trading at 102.73, continuing to be dominated by the US dollar. Yen depreciated against the US dollar after the speech from FED member Mester. Yen could depreciate further if the US economic data supported the possibility of a strong non-farm payrolls data and there after a rate hike from FED later in the year. There is no major data from Japan but the overall US dollar strength would be the focus.
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USD/JPY. Pair after opening at 101.62 and made high of 102.96 and was trading with positive bias and a strong session yesterday but now pair is near the trend line resistance and 103 is having a strong resistance and ait can revert from that levels so utilize the levels to sell the pair
Fundamental Overview
Yen is trading at 102.73, continuing to be dominated by the US dollar. Yen depreciated against the US dollar after the speech from FED member Mester. Yen could depreciate further if the US economic data supported the possibility of a strong non-farm payrolls data and there after a rate hike from FED later in the year. There is no major data from Japan but the overall US dollar strength would be the focus.