OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: CHF/JPY eyes near term support at 105.00

FXstreet.com (Barcelona) - Having made a morning high at 105.92, CHF/JPY has sold off throughout the majority of the European and into the US session, and is up 0.32% on the day and currently trading at 105.48.

On its morning climb, the pair found resistance just below 106.00, where the hourly 200 MA lies, before declining to where it has currently found support at the psychologically round 105.00 level before springing higher to its current levels. Hourly MA´s are flat, ranging and devoid of any overarching directional momentum, while stochastics have shuffled down from overbought territory yesterday evening, to where they are currently at 51 in the mid range. Hourly RSI is also at 51 and moving with sideways momentum.

Forex: USD/JPY fall held by 98.00 handle

The USD/JPY erased all its gains made during the European morning up to 98.53 high as the market couldn’t find its way above 98.50 resistance. Then, option activity strengthened the Yen back to the 98.00 ground and the publication of disappointing US manufacturing data sent the pair to 97.92 low. Support at the 98.00 handle is working in favoring of an ongoing bouncing movement.
Read more Previous

Forex Flash: JGB market could damage the yen – UBS

Volatile JGB yields failed to trigger a major selloff by foreigners. Foreign holdings of Japanese bonds were only marginally trimmed by Y176bn last week. “This bears watching though, after all, foreign holdings of Japanese government bonds and T-bills have steadily increased in recent years, and now stand at Y84 trn. That's a big number – more than all the overseas assets of Japan's life insurance industry.” notes Research Analyst Gareth Berry at UBS.
Read more Next
Start livechat