USD/JPY TECHNICAL OUTLOOK : 01.02.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
USD/JPY. Pair after opening at 113.70 made a high of 113.97 and saw the pair corrected fro the higher levels in our market session after our markets closed the pair made low of 112.04 and reversed and now near 113 so pair is likely to trade volatile in the range of 112-114 levels during the day.
Fundamental Overview
Japanese Yen is trading at 113.06, reflecting the US dollar weakness in the overnight session with comments on trade and currency devaluation from the Trump’s administration. Bank of Japan has kept the interest rates unchanged and changed its economic growth forecasts from 1% to 1.4% for the year. Expect sideways movement in USDJPY pair ahead of FOMC policy statement with 112.0 acting as strong support and 115.00 acting as a resistance.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Fundamental Overview
Japanese Yen is trading at 113.06, reflecting the US dollar weakness in the overnight session with comments on trade and currency devaluation from the Trump’s administration. Bank of Japan has kept the interest rates unchanged and changed its economic growth forecasts from 1% to 1.4% for the year. Expect sideways movement in USDJPY pair ahead of FOMC policy statement with 112.0 acting as strong support and 115.00 acting as a resistance.