OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY: neutral within familiar ranges - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair surged to a daily high of 120.34 after the European opening, retreating from it ahead of the US opening, even despite the US ADP survey beat expectations by printing 200K for September.

Key Quotes:

"Investors are not quite sure on how to take the news, as US futures were trading strongly higher before it, but seem now to be hesitating on growing speculation the FED may pull the trigger this October.

From a technical point of view, the USD/JPY continues respecting its usual range by the pip, retracing from the 50% retracement of its latest weekly decline.

Short term, the 1 hour chart shows that the 100 and 200 SMAs converge around 120.00 a clear sign of the lack of directional strength, whilst the technical indicators are turning lower after nearing overbought territory.

In the 4 hours chart, the technical indicators maintain its neutral stance, stuck around their mid-lines, as well as the 100 SMA, a few pips below the mentioned Fibonacci resistance."

AUD/USD: awaiting key Chinese data

AUD/USD is currently trading at 0.7015 at time of writing with a high of 0.7038 and a low of 0.6979.
Read more Previous

Wall street closed most positive in three weeks

Wall Street was saved from today as the S&P 500 managed a strong rally for the end of the quarter in the best rally in three weeks.
Read more Next
Start livechat