OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/JPY eases off highs to 102.40/42

FXstreet.com (Barcelona) - The USD/JPY rise was capped Wednesday following a movement up to the heights of 102.63 (resistance/session highs). The pair ultimately proved unstable at this mark, instead easing in recent minutes back to 102.40/42, where it resides presently. Despite the easing movement, the cross remains in positive territory, albeit at a marginal +0.01% advance during European trading.

Briefing the technicals, the USD/JPY will find resistance at 102.60, then 103.10, and finally 103.77. On the decline, a movement below 101.43 will trigger supportive structures at 100.76 ahead of 100.26.

According to the ICN.com Technical Analyst Team, “The USD/JPY moved to the upside yesterday, failing our expectations of a downside correction before extending the bullish move, as the upside move support further upside movement to test key resistance of the ascending channel at 103.05-10. Trading above 101.70 supports this outlook.”

Forex Flash: No improvement in Eurozone economic - Nomura

Nomura economists Silvio Peruzzo and Stella Wang note that within the realm of Euro area economics, Target2 data shows no major improvements in April.
Read more Previous

Asian stock markets surge ahead Wednesday

Asian equities popped Wednesday, helped in part by the ever-disintegrating JPY, which has lent a huge level of attractiveness to Japanese stocks. Not surprisingly, the Nikkei led the charge today, however Chinese markets also appeared to join in the fun.
Read more Next
Start livechat