USD/JPY TECHNICAL OUTLOOK : 7.12.2016
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USD/JPY. Pair after opening at 113.50 and made high of 114.70 and saw some sidewise to buying session yesterday after a bearish candle few days back but it continuing with the upward trend for past many days 114.70 is a key resistance and pair is likely to be respect 112 as it has taken out 109 comfortably. Expect side wise action between 112.80 to 114.50 mark for the day so buying on dips for the day.
Fundamental Overview
Yen is trading at 114.07, remaining in a tight range for most of yesterday. With the US dollar rally taking a breather, we have witnessed a similar pace for the price action in JPY as well. Improved risk appetite and the US dollar continuing to remain firm, we recommend staying short on the Yen in the near term.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Fundamental Overview
Yen is trading at 114.07, remaining in a tight range for most of yesterday. With the US dollar rally taking a breather, we have witnessed a similar pace for the price action in JPY as well. Improved risk appetite and the US dollar continuing to remain firm, we recommend staying short on the Yen in the near term.