OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY breaks above 93.00

The US dollar continues to strengthen across the board, having recently broken above the 93.00 mark against the yen to hit its highest level since Monday, underpinned by better-than-expected US PMI and consumer confidence.

USD/JPY has risen nearly 70 pips within the last hour and reached a high of 93.50 before easing a tad. At time of writing, USD/JPY is trading around 93.35 where it records a 0.9% gain during the first day of March.

In terms of technical levels, if the USD/JPY manages to clear the 93.50 area, next resistances are seen at 94.00 and 94.30.On the other hand, immediate supports could be found at 93.00, 92.70 (20-hour SMA), and 92.40 (intraday low).

Forex Flash: GBP/USD would face further downside – Commerzbank

The sterling pierced the psychological 1.5000 handle for a few moments, although it still remains hovering over the area, as the bearishness continues to drive risk-associated assets to fresh lows, and...
Read more Previous

Forex Flash: Measuring the euro’s true performance – UBS

With regards to the EUR, the currencies that it actually truly outperformed all had idiosyncratic reasons for falling on their own accord. “Take NOK and CAD for example - risk currencies which have not done well in what has generally been a risk-on environment – both of their central banks have taken a clear turn towards the dovish side this year and growth is set to disappoint strongly.” suggests Research Analyst Gareth Berry at UBS.
Read more Next
Start livechat