Monday, October 17, 2016

USD/JPY TECHNICAL OUTLOOK : 18.10.2016

USD/JPY TECHNICAL OUTLOOK : 18.10.2016


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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 has not able to violated the recent swing high of 104.62 and corrected from there and has come down from that levels so for today's session the pair is likely to trade side wise

Fundamental Overview

Yen is trading at 103.85, gaining some ground against the US dollar after yesterday’s economic data. There has been no trigger from the Japanese economy and as we have discussed yesterday, movement in the Japanese Yen is likely to be dependent on the US dollar. Yen is likely to trade in the broader range of 103.70- 104.30