USD/JPY TECHNICAL OUTLOOK : 18.11.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USD/JPY. Pair after opening at108.87 and made low of 108.60 and formed bullish candle after a doji
pattern we have seen strong buying due to dollar demand and pair is continue to trend upward and trending on the higher side, the pair is having a immediate resistance of 111.45 that can be kept a target for this move so utilize dips to buy the pair.
Fundamental Overview
Yen is trading at 110.64, continuing to depreciate against the US dollar after the FED chair confirmed a possible US rate hike in the coming months. US dollar strength has helped the pair above the 110.00 mark and is likely to remain there unless we see a reversal of sentiment. There is no hard fact on the ground and expectations are driving the pair and there always lies a possibility of correction.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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pattern we have seen strong buying due to dollar demand and pair is continue to trend upward and trending on the higher side, the pair is having a immediate resistance of 111.45 that can be kept a target for this move so utilize dips to buy the pair.
Fundamental Overview
Yen is trading at 110.64, continuing to depreciate against the US dollar after the FED chair confirmed a possible US rate hike in the coming months. US dollar strength has helped the pair above the 110.00 mark and is likely to remain there unless we see a reversal of sentiment. There is no hard fact on the ground and expectations are driving the pair and there always lies a possibility of correction.