OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY flat around 93.50

USD/JPY is currently trading flat for the week around the 93.50 handle, as USD and Yen are about even so far, battling both for first place as strongest major currency for last few days, being Yen strongest one at the moment, more on weakness from the rest, than from strength in itself. The pair retraces from NY session highs at 94.05 following FOMC meeting minutes, and recovers from late Asian session weekly lows yesterday at 93.13.

As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “the hourly chart shows price finding support in a flat 100 SMA, as indicators turn lower in neutral territory, giving no clear clues on short term direction,” the analyst says, expanding: “In the 4 hours chart, technical readings gain bearish tone, with momentum retracing from the 100 level, favoring a retest of recent lows around 93.20. The upside will likely remain limited until next week, when PM Abe will announce the new BOJ governor,” she suggests.

Support levels are found by Valeria at: 93.50, 93.10 and 92.60, while resistance levels at: 93.90, 94.15 and 94.50.

Forex: FOMC spoke on QE and the Euro is speechless

The Dollar has been the winner of the day, isn't it?. Following the latest FOMC minutes, which showed members are considered the end of the QE, the EUR/USD was dragged below the 1.3300 frontier to reach 1-month lows around 1.3270 where the pair remains trading calm in consolidation mode.
Read more Previous

Forex: NZD/USD loses over 1 cent as central bank views diverge

One of the most gripping contrasts in performances in the past 24 hours has been the Kiwi vs the Greenback, with the rate getting smashed almost 1.5 cents from high to lows (0.8470 to 0.8330), currently around 0.8350.
Read more Next
Start livechat