OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY capped below 123.00, Japan on holidays

FXStreet (Bali) - USD/JPY is developing its early activity in a slow motion, trapped in a 122.85-95 range since the electronic trading openm with prospects of a pick up in volatility during the Asian session quite slim, given the public holidays in Japan today.

USD/JPY in-house view

Valeria Bednarik, Chief Analyst at FXStreet, notes: "The daily chart for the USD/JPY pair shows that the price remains above its 100 and 200 SMAs, both together around 121.40 whilst the technical indicators continue retreating from overbought levels, heading towards their mid-lines."

"Shorter term, the 4 hours chart shows that the Momentum indicator has accelerated strongly below the 100 level, while the RSI indicator heads south around 41 supporting a continued decline on a break below 122.60, November 19th low and the immediate support", Valeria adds.

Leveraged funds keep increasing net long USD - ANZ

Khoon Goh, FX Strategist at ANZ Research Team, reviews the positioning data for the week ending 17 November 2015, noting that leveraged funds increased their net long USD positions for the fourth consecutive week ahead of the release of the FOMC Minutes last week.
Read more Previous

USD/NOK extending scope of projections

USD/NOK extending scope of projections
Read more Next
Start livechat