USD/JPY TECHNICAL OUTLOOK : 10.02.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Fundamental Overview
Yen is trading at 113.65, depreciating against the US dollar after the comments from Trump about tax cuts and also after the US economic data was reported better than expected. Markets would be looking forward to the Trump –Abe meeting that is scheduled today. Discussions about trade would be in focus and it would be interesting to see how the talk about currency would go after trumps recent comments on the subject.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
10:00 JPY Tertiary Industry Activity Index (MoM) -0.10% 0.20%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USD/JPY. Pair after opening at 111.82 made low of 111.72 and was trading with some sidewise bias for a shorter duration in the range of 111.50-112.70 and yesterday violated the upper boundary and had a strong bull candle signifies bulls are back and the pair can head upper end of the range at 115.00 in the near term so any dips is a buying opportunity.Fundamental Overview
Yen is trading at 113.65, depreciating against the US dollar after the comments from Trump about tax cuts and also after the US economic data was reported better than expected. Markets would be looking forward to the Trump –Abe meeting that is scheduled today. Discussions about trade would be in focus and it would be interesting to see how the talk about currency would go after trumps recent comments on the subject.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
10:00 JPY Tertiary Industry Activity Index (MoM) -0.10% 0.20%