OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY: Too neutral to confirm further bear pressures - FXStreet

FXStreet (Bali) - USD/JPY has found a double tip at 115.50, although further downward momentum is still necessary to increase downside risks short term, notes Valeria Bednarik, Chief Analyst at FXStreet.

Key Quotes

"The short term technical picture shows that in the 1 hour chart, price pressures 100 SMA around Friday’s low of 114.30 and immediate support; indicators in this same time frame head lower below their midlines, albeit price has bounced sharply higher on approaches to the 114.00 figure, the level to break to confirm further intraday declines."

"In the 4 hours chart indicators also aim lower entering negative territory, still too neutral to confirm downward strength, and also confirming the need of a break below the 114.00 figure for a steadier decline. To the upside, may resistance stands at 115.00, albeit gains beyond 115.50 highs are not seen for the upcoming 24 hours."

China Oct CPI, PPI in focus - Westpac

China Oct CPI and PPI at 12:30pm Syd/9:30am local will be the main risk event in Asia, notes Sean Callow, FX Strategist at Westpac.
Read more Previous

NZD: Supportive effect on Canterbury settlements to disappear in coming quarters - Deutsche Bank

ccording to Deutsche Bank, the supportive effect on the NZD from the Canterbury settlements will all but disappear in coming quarters.
Read more Next
Start livechat