OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY erases gains to trade at 94.41/43

FXstreet.com (Barcelona) - The USD/JPY has taken a tumble during American trading Monday after a failed break at the 95.00 level earlier today. In these moments the pair is ceding ground, having erased all of its gains made during European trading to trade negatively at 94.41/43 or -0.09% off its opening.

Mataf.net analysts point to supports at 94.29, onto 93.83, and finally 93.45. Conversely, a paring of recent losses and a subsequent move to the upside will result in USD/JPY testing calculated resistance at 95.12, ahead of 95.49, and 95.95.

“The USD/JPY is close to key support of the ascending channel and is still stable above the 94.10 level. However, prolonged stability above the 94.10 mark might trigger an upside push during this week. Breaking 93.80 levels though and stability below it could cancel the bullish move and enter into a bearish correctional wave.” warns the ICN.com analyst team.

Forex Flash: Buy Deutsche Börse and ICAP despite FTT – Merrill Lynch

Merrill Lynch analysts believe that the proposed European Financial Transactions Tax (“FTT”) is likely to undermine economic growth and investment returns due to the counterproductive implications of the tax going ahead in its current. “Our view is that the FTT may look like a simple toll on financial transactions. However, its structural features, which are very different from existing transaction taxes, make it a significant potential roadblock for the economies of the eleven participant nations”, they wrote, adding that if their view of the FTT is proved wrong, “all the volume sensitive stocks we cover could see very material hits to earnings”.
Read more Previous

Forex: AUD/USD falls from 1.0480 on NY session

The AUD/USD climbed the chart slowly during Asian time and gave a stronger push during the Euro-pean shift, peaking at 1.0478, with resistance at 1.0480 blocking further gains. After touching 1.0480 at 14:00 GMT, the cross started to erase its gains, approaching 1.0445. The market is currently trading at 1.0454.
Read more Next
Start livechat