OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY capped at 109.80

FXStreet (Edinburgh) - The greenback is extending its rally across the board at the beginning of the week, taking USD/JPY to the vicinity of 109.80, although losing some impetus afterwards.

USD/JPY focus on US docket

Absent data releases in the Japanese economy today, traders will look to the US calendar in order to find further catalysts to push the pair closer to the psychological mark at 110.00: inflation figures tracked by the PCE, Personal Income/Spending and Pending Home Sales will all shape the NA session in the data front. According to Emmanuel Ng. FX Strategist at OCBC Bank, “net leveraged JPY shorts increased perceptibly in the latest week and the pair may attempt to creep towards the pivotal and psychological line in the sand at 110.00 this week if USD strength is US-centric instead of risk appetite driven”.

USD/JPY relevant levels

At the moment the pair is 0.19% at 109.50 with the next resistance at 109.75 (2014 high Sep.29) followed by 109.94 (high Aug.26 2008) and then 110.00 (psychological mark). On the downside, a breach of 109.16 (low Sep.29) would open the door to 109.00 (psychological level) and finally 108.76 (10-d MA).

EUR/USD maintains heavy tone on Monday - FXStreet

FXStreet Chief Analyst Valeria Bednarik remarks that EUR/USD fell to a low of 1.2663 on Monday, while the upside has been limited by the 1.2700 level so far.
Read more Previous

USD/CHF consolidates near 14-month highs above 0.9500

USD/CHF entered a consolidation phase after hitting fresh 14-month high as the dollar continues to build gains across the board.
Read more Next
Start livechat