OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY pressured on European session, low at 93.88

FXstreet.com (Barcelona) - Having tested the 94.00 line during the Asian session, the rebound was limited to 94.25 zone and then the publication of German unemployment data and EMU money supply triggered another move down, printing a low at 93.88. The USD/JPY is currently trading back at 94.00 ground.

There were 13K more unemployed people in Germany in March, instead of 4K less as expected. The unemployment rate remained at 6.9%. German retail sales rose 0.4% in February (MoM), beating -0.1% consensus, but annualized data fell from +2.5% to -2.2% (consensus of 0.4%). EMU money supply (YoY) eased from 3.5% to 3.1% in February, beating consensus of 3.3%. Private loans remain at -0.9%, as expected.

“The downtrend here is absolutely intact and current rebound above 1.2748 low should be considered corrective in nature, preceding next leg downwards, to 1.2700 area”, wrote Deltastock.com analyst Stoyan MIhaylov, pointing to intraday resistance at 1.2820 and crucial on the upside is 1.2890.

Forex Flash: What lies ahead of the EUR/USD? – Commerzbank and BTMU

The single currency is trading in a soft tone on Thursday, reverting initial gains after the unemployment change in Germany rose by 13K, surprising investors. In the meantime, market...
Read more Previous

Forex Flash: Yen remains firmer as investors remain wary of contagion - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the Yen strengthened modestly in the Asian session, although gains still remain modest ahead of next week´s key BoJ monetary policy meeting.
Read more Next
Start livechat