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USD/JPY breaks below 102 like hot butter once again

FXstreet.com (Barcelona) - With “No fresh news at moment, just the stock index dropping,” says ForexLive editor Eamonn Sheridan, the USD/JPY has sold off about 70 pips in a blink of an eye from the 102.30 area to fresh session lows around the 101.50 bids, to be trading last at 101.74. The pair is down -1.74% for the week so far.

Just when Tokyo market opened again back from lunch break, and BoJ Kuroda has given his usual speech on “searching for inflation” theme, the Nikkei index has plummeted more than 200 points from the mid 14800 points area, to sit at the moment above the 14600 level, still up +1.1% for the day, following yesterday's massive -7.32% fall, the biggest single day fall since 2011 Tsunami.

Immediate support to the downside for USD/JPY lies at recent session lows 101.52, followed by May 14 lows at 101.25, and yesterday's fresh 2-week lows at 100.83. To the upside, closest resistance shows at May 14/15 lows 101.84, followed by Monday's lows at 101.93, and Tuesday's lows at 102.07.

AUD/USD gets pounded down to 0.9650

The Aussie is having a hit again today in last trading day of the week in Asia-Pacific, down around 100 pips already for the session at 0.9655 last, or a -0.95% lower for the session. Broad USD strength is main reason behind AUD selling off.
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Will German GDP/IFO be the catalyst to take EUR/USD back above 1.3000?

The EUR/USD finished the session sharply higher, mainly benefiting from a better than expected European PMI data print. It will be another busy upcoming economic session in Europe, with German GDP due out at 6:00GMT, followed by German IFO at 8:00GMT. One has to ask, if the print comes in better than expected, will it be enough to take the pair back above the critical resistance level of 1.3000?
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