Wednesday, October 19, 2016

USD/JPY TECHNICAL OUTLOOK:10/20/2016

USD/JPY TECHNICAL OUTLOOK:10/20/2016

NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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USD/JPY. Pair after opening at103.85 and made high of 103.96 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 ,the had a triple bottom at 100 levels so until that hold utile dips to buy

Fundamental Overview

Yen is trading at 103.79, losing some ground against the US dollar after the US economic data release. Yen appreciated to 103.14 before the data was released. There is no major data from either Japan or the US today and all focus would be on the ECB. We expected a test of 103.00 before the journey back towards 104 and above and our view continues to remain the same.