USD/JPY TECHNICAL OUTLOOK:28.10.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USD/JPY. Pair after opening at104.47 and made low of 104.27 and saw some buying in the session the pair had taken support near 104 and 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 105.25, breaking our target of 105 in the US session yesterday. Yen continues to remain influenced by the US dollar strength and as described in our US dollar analysis, expect further weakness in Yen. Economic data reported this morning was in line with expectations as inflation and household spending meeting estimates. We would wait on the sidelines for a better level to sell the yen.
Economic Data & News
TIME COUNTRY DATA SURV PREVIOUS
05:00:00 JPY Household Spending (YoY) (Sep) -3.00% -4.60%
05:00:00 JPY Household Spending (MoM) (Sep) 0.60% -3.70%
05:00:00 JPY Jobs/applications ratio (Sep) 1.37 1.37
05:00:00 JPY National Core CPI (YoY) (Sep) -0.50% -0.50%
05:00:00 JPY Tokyo Core CPI (YoY) (Oct) -0.50% -0.50%
05:30:00 JPY 10-Year JGB Auction -0.06%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Fundamental Overview
Yen is trading at 105.25, breaking our target of 105 in the US session yesterday. Yen continues to remain influenced by the US dollar strength and as described in our US dollar analysis, expect further weakness in Yen. Economic data reported this morning was in line with expectations as inflation and household spending meeting estimates. We would wait on the sidelines for a better level to sell the yen.
Economic Data & News
TIME COUNTRY DATA SURV PREVIOUS
05:00:00 JPY Household Spending (YoY) (Sep) -3.00% -4.60%
05:00:00 JPY Household Spending (MoM) (Sep) 0.60% -3.70%
05:00:00 JPY Jobs/applications ratio (Sep) 1.37 1.37
05:00:00 JPY National Core CPI (YoY) (Sep) -0.50% -0.50%
05:00:00 JPY Tokyo Core CPI (YoY) (Oct) -0.50% -0.50%
05:30:00 JPY 10-Year JGB Auction -0.06%