OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY: reluctant to break down - Commerzbank

FXStreet (Guatemala) - USD/JPY eroded the 6 week uptrend at 119.36 last week and headed straight back into the range.

Key Quotes:

"This suggests a reluctance to break down. However it has not done enough to negate the downside and for now we will continue to target the 118.33 March low enroute to the 2012-2015 116.62 uptrend. We look for this to hold the downside and provoke recovery.

The market will find initial resistance at 120.41 and tough resistance at 121.76/79, the late August high and the 61.8% retracement. While capped here a negative bias remains entrenched."

iPhones widened the US trade deficit in August – Wells Fargo

According to Jay Bryson and Tim Quinlan, economists at Wells Fargo, weak export growth in the US is likely to continue. They noted that imports of the iPhone contribute to the widening in the trade deficit in August.
Read more Previous

USD/CAD approaches September lows

USD/CAD dropped further as crude oil rallied to 1-month highs. The pair broke below 1.3060 and bottomed at 1.3030, reaching the lowest level since September 18. Currently it trades at 1.3040/45, down 0.30% for the day.
Read more Next
Start livechat