USD/JPY TECHNICAL OUTLOOK:17.11.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USD/JPY. Pair after opening at108.97 and made high of 109.75 and formed a doji pattern after we have seen strong buying due to dollar demand and the pair could not sustain the lower levels of 106.50 and broke above the 200Dma at 107 but could not surpass the levels of 110 so for the day the pair is likely to face resistance at higher levels so utilize rise to sell the pair
Fundamental Overview
Yen is trading at 108.95, after a failed attempt to breach the 110.00 mark in yesterday’s session. A stall in the dollar rally helped the recovery in Yen overnight and the comments from Bank of Japan governor Kuroda indicating the banks intention to curb the sudden rise in bond yields over the last few days. Movement in the Yen would be dependent on the dollar for the day and if the bond sell off stall for the day, expect further recovery in the yen towards 107.80.
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Fundamental Overview
Yen is trading at 108.95, after a failed attempt to breach the 110.00 mark in yesterday’s session. A stall in the dollar rally helped the recovery in Yen overnight and the comments from Bank of Japan governor Kuroda indicating the banks intention to curb the sudden rise in bond yields over the last few days. Movement in the Yen would be dependent on the dollar for the day and if the bond sell off stall for the day, expect further recovery in the yen towards 107.80.