OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY consolidates above 102.00

FXstreet.com (Barcelona) - USD/JPY is last at 102.23, little changed for the session being and at same price it was in previous Asia-Pacific open yesterday, printing another fresh 4.5-year high in between at 102.78, at the time US equity indexes are posting all time record highs. Following recently released best GDP figures in Japan for over a year, Nikkei index opens in Tokyo above the 15150 points, adding +0.25% gains, at its highest since late 2007.

As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “The hourly chart shows technical readings flat above their midlines, and price above 100 SMA that advance further, currently around 101.85 offering support in case of retracements,” the analyst says, adding: “However, the upward tone is still undeniable in bigger time frames, and dips continue to be seen as buying opportunities towards 103.60 this week bullish target,” she concludes.

Valeria locates support levels at: 102.00, 101.50 and 101.25, while resistance levels at: 102.40, 102.90 and 103.30.

Commodities Brief: Precious metals plummet as US Dollar adds to previous gains

It was another rough day for the precious metals bulls as gold and silver both finished sharply lower. After shrugging off early weakness, oil actually managed to finish the day in positive territory. The strength in the US Dollar Index most likely didn’t help matters, although the DXY did leak lower later in the afternoon to finish up 16 pips at 83.88 (highest close since early August 2012).
Read more Previous

Forex: Break above 0.9920 key to upgrade outlook for the Aussie

The Australian Dollar is enjoyed the resurgence of buyers around the 0.9850 year lows to currently test a twin top at the 0.9915/18 vicinity. The pair has now to violate this level to upgrade its short term bullish technical outlook.
Read more Next
Start livechat