USD/JPY TECHNICAL OUTLOOK:21.11.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USD/JPY. Pair after opening at110.23 and made low of 109.76 and formed bullish candle after a doji pattern we have seen strong the pair has seen strong trend from the levels of 105 and now 111.00 mark but 111.50 is a strong resistance in the pair ,so good levels to book profits and wait for correction to enter the trend , for the day 110.5 is a good levels to enter the pair.
Fundamental Overview
Yen is trading at 110.81, continuing to lose ground against the US dollar as optimism surrounding the US economic strength and possible rate hike from the FOMC next month, all weighed down on the YEN. Japanese trade balance was reported lower than expected this morning and had little impact on the currency. Expect the US dollar strength to continue in this week but there could be a wave of profit booking before the long weekend in the US.
Economic Data & News
TIME COUNTRY DATA SURV PREVIOUS
05:20:00 JPY Adjusted Trade Balance 0.47T 0.41T 0.36T
05:20:00 JPY Exports (YoY) (Oct) -10.30% -8.60% -6.90%
05:20:00 JPY Trade Balance (Oct) 496B 615B 498B
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
Yen is trading at 110.81, continuing to lose ground against the US dollar as optimism surrounding the US economic strength and possible rate hike from the FOMC next month, all weighed down on the YEN. Japanese trade balance was reported lower than expected this morning and had little impact on the currency. Expect the US dollar strength to continue in this week but there could be a wave of profit booking before the long weekend in the US.
Economic Data & News
TIME COUNTRY DATA SURV PREVIOUS
05:20:00 JPY Adjusted Trade Balance 0.47T 0.41T 0.36T
05:20:00 JPY Exports (YoY) (Oct) -10.30% -8.60% -6.90%
05:20:00 JPY Trade Balance (Oct) 496B 615B 498B