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Forex: USD/JPY around 98.00 ahead of G20

FXstreet.com (Barcelona) - The USD/JPY peaked at 98.36 high from 97.64 low during the Asian session. Profit taking pulled the pair to 97.80/85, but the market remains attached to the 98.00 ground. Investors will be eyeing the G20 meeting that will be focusing on the aggressive monetary easing by the Bank of Japan.

The economic calendar showed rising exports in Japan, by from -2.9% to +1.1% in March, beating +0.4% consensus. Imports eased, from 11.9% to 5.5%, below the 6.3% expected. The adjusted Merchandise trade deficit narrowed from ¥-1,086.581B to ¥-921.976B, better than the ¥-934.500B expected.

“We would allow for some slippage to 97.40/96.00”, wrote Commerzbank analyst Karen Jones. “We need a break above 98.715 order to reassert upside pressure towards the 99.70/100.00 recent high, Fibonacci retracement and psychological resistance”, she added.

Forex: AUD/USD in session highs, around 1.0315/20

The Aussie dollar is advancing on Thursday after the NAB Business Confidence during the first quarter improved to 2 from -5...
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Forex Flash: EUR/USD to resume down move towards 1.2740 - Commerzbank

The EUR/USD failed at the 1.3225/50% retracement once again. “Current indications remain that the market will remain capped here (Elliott wave count and TD perfection set-up) and we look for the resumption of the down move. Intraday the market has found some support at 1.3000/1.2995 and this guards the 200 day ma at 1.2922 en route to the 1.2740 recent low”, wrote Commerzbank analyst Karen Jones, pointing to key support at 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low), while a deeper retracement to 1.3340 and possibly 1.3503 would happen once above 1.3225.
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