OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY flattens weekly candlestick

The USD/JPY breached below 96.33/38 and extended its downside to just above the 96.00 mark, trading at yesterday's levels. The market is now flat on the week and looks for a trigger to define a direction.
Japan's consumer confidence rose from 43.3 to 44.3 in February.

Just published was Italy CPI, at 0.1% (MoM) and easing from from 2.2% to 1.9% in February (YoY), as expected. The EU normalized figure made no surprise by dropping from 2.4% to 2.0%.

Germany WPI came in at 0.1% in February (MoM), below 0.3% consensus. CPI and HICP came in at 0.6% and 0.8%, respectively, as expected. France current account deficit widened from €-3.8B (revised from €-3.6B) to €-5B in January.

“Strong bulls remain intact, despite overbought conditions on lower timeframe studies and looking for test of psychological 100 barrier in the near-term, with initial targets standing at 97.00/70, Aug/July 2009 highs”, wrote Windsor Brokers analyst Slobodan Drvenica, pointing to support at 96.00/95.50, “while violation of the latter would signal a pause in recent rallies and allow for deeper pullback”.

Forex: EUR/JPY pressured, held by 125.00

The EUR/JPY erased its Asian session gains that reached as high as 126.04 earlier in the day. The cross dropped harder on the European opening, going as low as 124.78, but the market was able to bounce back to 125.00 ground.
Read more Previous

Forex: EUR/USD regains 1.3000 after Italian CPI

The euro managed to leave intraday lows in the vicinity of 1.2990 to regain the key resistance of 1.3000 after the CPI in Italy rose 1.9% YoY in February, in line with consensus although lower than January’s 2.2%...
Read more Next
Start livechat