OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY expect to be consolidated ahead of BoJ - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair advanced around 100 pips ever since the beginning of the American session, boosted by positive news coming from the US.

Key Quotes:

"Even before the FED's hawkish statement, the pair was mildly bullish as the US Trade Balance for September showed the deficit shrank to $58.53B from the previous deficit of $67.19B."

"The pair holds near its daily high around 121.25 ahead of the Asian session opening, and the 1 hour chart shows that the price accelerated higher through its 100 SMA, whilst the technical indicators have lost their upward strength in overbought levels, where they are now consolidating."

"In the 4 hours chart, an early dip met buying interest around the 100 and 200 SMAs, both flat in the 119.90/120.00 price zone, whilst the technical indicators head higher after crossing their mid-lines towards the upside, favoring further declines.

Nevertheless, the pair can spend the next 24 hours consolidating in a tight range around the current level, ahead of the BOJ's economic policy meeting at the beginning of the upcoming Friday."

RBA can brush CPI aside - UOB Group

Analysts at UOB Group explained that Australian consumer prices rose at a slightly weaker pace in the third quarter, but adjusted measures of inflation held within safe ranges, giving the RBA little reason to worry about its inflation target.
Read more Previous

Global growth rates: downsides persists - Scotiabank

Analysts at Scotiabank explained that six years and counting, global output growth has been steadily moderating following the massive stimulus-induced bounce in 2010 from the depths of the Great Recession.
Read more Next
Start livechat