OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY takes profits ahead of BoJ this week

FXstreet.com (Barcelona) - The market wasn’t able to record stronger gains than to 94.38 high in early Asian morning, and then, profit taking made the USD/JPY react lower to 93.83/79 as investors get ready for this week’s BoJ policy meeting. Governor Kuroda is expected to engage in a different approach, more dovish.

Japan’s vehicle sales are gradually worse, easing from -12.2% to -15.6% in March. With most countries out to celebrate Easter Monday, the US will attract investors’ attention by publishing data. “The US manufacturing sector is continuing to enjoy a period of rebound as the bounce back in domestic economic growth momentum is pushing new orders and production activity close to their highest level in almost a year”, wrote TD Securities analysts”. “This positive momentum should be sustained in April and we expect the headline ISM manufacturing index to remain essentially unchanged at 54.3, in line with consensus”.

“There is a recent range between 95.00 and 93.50. A break above 95.00 favors the bullish continuation scenario. A break below the 93.50 level could test a rising trendline from November, below which a bearish correction scenario is favored”, wrote FXstreet.com analyst Fan Yang.

Forex: GBP/USD consolidates below 1.5200

The sterling is following the prevailing offered tone in riskier assets on Monday, testing session lows in the vicinity of 1.5180 after briefly hitting levels above 1.5200 overnight...
Read more Previous

Forex: USD/CHF eases from highs back towards 0.9500

On escalating fears of Cyprus, the greenback pushed higher earlier in the day and affected the USD/CHF to reach as high as 0.9527. Throughout the rest of the Asian session and now, ahead of the European shift, the pair retracing part of the gains, working its way to test the 0.9500 mark.
Read more Next
Start livechat