OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/JPY hovering over 96.00

The USD/JPY regained the 96.00 level and has spent the last hours hovering over that level, as the greenback received a boost following strong US retail data.

USD/JPY peaked at 96.24 but lacked momentum too rise beyond that level and settled inside a narrow range within the last hours. At time of writing, the pair is trading around 96.10/15, just a few pips above its opening price.

In terms of technical levels, if the cross manages to rise above 96.25, next resistances could be found at 96.70 (Mar 12 high) and 97.00 (psychological level). On the flip side, supports are seen at 95.45 (intraday low), 95.10 (Mar 7 high) and 94.60 (200-hour SMA).

Forex Flash: Recent GBP decline does not necessarily indicate buying opportunity – UBS

The fact that sterling's absolute NEER according to the BoE's ERI is near 20-year lows should not be interpreted an immediate buy signal as relative trend shifts the valuation is broadly fair. In contrast, what happened in 2008-2009 was a case of spot-NEER reaching extremely undervalued levels (over 30% undervalued versus trend) even factoring the structural changes in the UK post-financial crisis, and this was the point where some consolidation began and buyers came back in.
Read more Previous

Forex: EUR/USD stabilizing at 1.2950

Wednesday started off with signs of a possible continuation of the rebound drawn at the start of the week, but the upside was limited to 1.3065 high and after the threat of losing the 1.3000 psychological level, positive US data sharpened losses to 1.2924 low. The pair is now stabilizing at 1.2950 area.
Read more Next
Start livechat