Thursday, February 2, 2017

USD/JPY TECHNICAL OUTLOOK : 03.02.2017

USD/JPY TECHNICAL OUTLOOK : 03.02.2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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USD/JPY. Pair after opening at 112.84 made low of 112.05 and traded with some negative bias but could not close below the supports of 112.lelves so if the pair able to maintain and sustain above the consolidation likely to test the rise range of the consolidation of 115 levels in the near term.

Fundamental Overview

Yen is trading at 112.69, traded in a range of 112.00-113.00 for most of yesterday. The relatively quiet risk backdrop, along with Treasury yields off their lows have supported, though overall dollar sentiment remains guarded, as the U.S. trade outlook and new administration's overall policies still quite uncertain. A strong NFP will take the pair to 114.00.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:20 JPY Monetary Policy Meeting Minutes