USD/JPY TECHNICAL OUTLOOK : 27.10.2016
USD/JPY. Pair after opening at104.21 and made high of 104.62 and saw some buying near 104 mark in our session the pair has been trading in the range of 104-104.85 and 104 has become a strong support so any dips shall be utilize to buy the pair as the pair is making lower high in the hourly chart
Fundamental Overview
Yen is trading at 104.54, trying to reach the 105 levels as markets continue to remain US dollar positive, With the 10 year treasury yields near the 1.8 levels, markets are betting for a guaranteed rate hike from the US. We have been targeting the 105.00 levels and with chances of positive data to be reported today, we expect another rally in the US dollar and would continue to recommend staying short on Yen.
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USD/JPY. Pair after opening at104.21 and made high of 104.62 and saw some buying near 104 mark in our session the pair has been trading in the range of 104-104.85 and 104 has become a strong support so any dips shall be utilize to buy the pair as the pair is making lower high in the hourly chart
Fundamental Overview
Yen is trading at 104.54, trying to reach the 105 levels as markets continue to remain US dollar positive, With the 10 year treasury yields near the 1.8 levels, markets are betting for a guaranteed rate hike from the US. We have been targeting the 105.00 levels and with chances of positive data to be reported today, we expect another rally in the US dollar and would continue to recommend staying short on Yen.