Monday, December 26, 2016

USD/JPY TECHNICAL OUTLOOK : 27.12.2016

USD/JPY TECHNICAL OUTLOOK : 27.12.2016
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE


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USD/JPY. Pair after opening at 117.20 and made high of 117.65 and saw side wise action after some
buying from the lower levels in the session yesterday the pair is stuck in the range of 117-118 levels for past days and likely to be in the range so trade the said range in the range.

Fundamental Overview

Yen is trading at 117.35 continuing to trade in a narrow range even after National CPI reported negative / below expectation after the monetary policy meeting minutes were released yesterday . The minutes did not throw any new light and indicated the currency policy is set to continue in the near term. Japan calendar is packed with data this week and could give a few trade opportunities this week.


Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
05:00:00 JPY Household Spending (YoY) (Nov) 0.20% -0.40%
05:00:00 JPY Household Spending (MoM) (Nov) 0.40% -1.00%
05:00:00 JPY Jobs/applications ratio (Nov) 1.41 1.4