OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY attempting to go back above 109.00

FXStreet (Moscow) - USD/JPY touched 108.66 session low in late Asia, and resumed the rise again reaching 108.90 area in Europe.

New triggers tonight

Last week was packed with key events having big impact on the pair, thus, lower volatility in the coming days is not ruled out on the back of lighter economic calendar. The yen fell to August, 2008 low against USD last Friday, and although it retreated to 109.00 area by the end of trading week, now the chances to see new multi-year highs are growing. Since the recent FOMC meeting hinted on possibility of earlier rate hike provided better economic picture, the market will pay special attention to US reports. Tonight’s housing data is in focus.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 109.03 with support below at 108.59, 108.14 and 107.70 with resistance above at 109.48, 109.92 and 110.37. Hourly Moving Averages are bullish, with the 200SMA bullish at 107.52 and the daily 20EMA bullish at 106.26. Hourly RSI is bearish at 49.

Quiet week for European data - TD Securities

Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities points out that there are not many market-moving data releases in the economic calendar this week, the most important ones being flash PMI numbers on Tuesday and the German IFO on Wednesday.
Read more Previous

BoE not expected to tighten policy earlier or more aggressively - RBS

Paul Robson from RBS believes that that due to the slowdown in jobs growth and continued soft wage pressures markets are not pricing in a earlier or more aggressive policy tightening by the BoE.
Read more Next
Start livechat