USD/JPY TECHNICAL OUTLOOK : 27.02.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
Japanese Yen is trading at 112.15, appreciating against US dollar with USD/JPY pair rebounding from the levels of 111.91 in the morning session today making 12 days low. Lack of clarity from Trump’s administration about tax rate cut has kept US dollar under pressure against majors in Fridays session with Yen playing the safe haven role. There is no data from Japan for the day. Expect 111.60 to act as a support for the USD / JPY pair where markets focus would be on the state of the Union speech that is scheduled for tomorrow.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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USD/JPY. Pair after opening at 113.22 made high of 113.46 and reversed from the higher levels the pair is now heading near the short term support of 111.50 if sustain expect a bounce but if traded and close below the above mentioned levels likely to head further down , but for the day supply can come in a t higher levels, but overall the pair has been trading in the broader range of 111.50-114.95 and likely to trade that range.Fundamental Overview
Japanese Yen is trading at 112.15, appreciating against US dollar with USD/JPY pair rebounding from the levels of 111.91 in the morning session today making 12 days low. Lack of clarity from Trump’s administration about tax rate cut has kept US dollar under pressure against majors in Fridays session with Yen playing the safe haven role. There is no data from Japan for the day. Expect 111.60 to act as a support for the USD / JPY pair where markets focus would be on the state of the Union speech that is scheduled for tomorrow.