OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY trend remains bullish – FXStreet

FXStreet (Barcelona) - According to Matias Salord, Analyst at FXStreet, the USD/JPY trend remains bullish after the pair rises back to 118 levels, post the bearish correction.

Key Quotes

“Price continued to advance to fresh multi-year highs, until found resistance below 119.00, increasing volatility around that level.“

“After an expected bearish correction during the European session, technical indicators are turning again to the upside, particularly after US economic data. USD/JPY rose back above 118.00 and recovered ground.“

“The trend remains bullish but longer term charts show overbought reading, that could limit the upside.”

“If the price falls back below 118.10 (where the hourly 20-SMA stands), it would expose daily lows and open the doors for a bigger correction.”

South Africa SARB Interest Rate Decision remains unchanged at 5.75%

Read more Previous

OPEC action more likely – Morgan Stanley

As per the investment bank Morgan Stanley, the Organization of Petroleum Exporting Countries (OPEC) group is more likely to cut output or enforce stricter supply limits next week.
Read more Next
Start livechat