Thursday, October 13, 2016

USD/JPY TECHNICAL OUTLOOK : 14.10.2016

USD/JPY TECHNICAL OUTLOOK : 14.10.2016


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USD/JPY. Pair after opening at 104.24 and made low of 103.30 and was trading with sidewise the pair violated the recent swing high of 104.32 and has come down from that but any dip shall be utilized to buy the pair we as pair is forming higher low so dips shall be utilized to buy the pair

Fundamental Overview

Yen is trading at 103.93, unable to maintain the gains that were seen in the Asian session after the weak Chinese data was reported; Profit booking in the US dollar also helped the Yen appreciation. In today’s session, the US dollar would direct the Yen’s movement. We expect a stable trade until the US session and a stronger than expected US economic data could drive the Yen lower