USD/JPY TECHNICAL OUTLOOK : 3.3.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Fundamental Overview
Japanese Yen is trading at 114.28, continuing with the depreciation against the US dollar. Yen has
depreciated the most against the dollar since Trump’s speech and is likely to remain sold. Risk on sentiment is also adding to the weakness in demand for the safe haven. Household spending and CPI data reported this morning have shown some improvement but not enough to help the Yen move higher against the dollar. We expect the pair to move towards 115.00 in the coming sessions.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
The yen against dollar has witnessed a 3 days downside move where it depreciated from 112 levels in the beginning of the week to 114.61 yesterday. 113.60 is a trend line breakout on the USDJPY Daily charts which now acts as an immediate support. A minor correction to these levels could be used to open long positions on USDJPY for upside targets of 114.90 & 115.40. Breakout above 114.90 would be range shift for USDJPY and one can look up to 116.50 in the near future.Fundamental Overview
Japanese Yen is trading at 114.28, continuing with the depreciation against the US dollar. Yen has
depreciated the most against the dollar since Trump’s speech and is likely to remain sold. Risk on sentiment is also adding to the weakness in demand for the safe haven. Household spending and CPI data reported this morning have shown some improvement but not enough to help the Yen move higher against the dollar. We expect the pair to move towards 115.00 in the coming sessions.