OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY met buyers at 108.60 support

FXStreet (Moscow) - USD/JPY settled at 108.76 after having dipped to Asian lo at 108.60 on the back of JPY corrective strength.

109.00 is a hard nut

USD/JPY bears find it difficult to stay above 109.00. From the longer-term perspective the pair is deeply overbought, it means that the correction might be on cards, but the bears need to push USD below the area of strong demand at 108.60 to get a chance for a mode extended downside, probably towards 108.30. Japanese markets are closed today, so the fate of the pair will be defined solely by USD sentiments. FOMC member Powell speech and Markit PMI numbers might trigger a new period of USD/JPY volatility. Namely, PMI index might support USD if it climbs to 58.0 in September from 57.9 in August (in line with expectations). From the technical point of view, the upside is limited by 109.00, while the support is seen at 108.60.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 108.90 with support below at 108.60, 108.36 and 108.05 with resistance above at 109.14, 109.45 and 109.69. Hourly Moving Averages are bullish, with the 200SMA bullish at 107.78 and the daily 20EMA bullish at 106.51. Hourly RSI is bearish at 42

EUR/USD: Support at 1.28 increasingly tenuous - OCBC

Emmanuel Ng, FX Strategist at OCBC Bank, notes that 1.28 support in EUR/USD looks increasingly tenuous.
Read more Previous

Asia Recap: US, allies launch attacks against ISIS in Syria

It was a fairly quiet Asian session, with the Aussie finding some timid buying interest on upbeat Chinese HSBC PMI, while the rest of G10 currencies traded in tight ranges.
Read more Next
Start livechat