OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY surges ahead to 93.12/18

FXstreet.com (Barcelona) - The USD/JPY has risen again sharply Friday, as the G20 meeting goes on today. With the JPY in full retreat across the board, the cross has settled at 94.12/18, slightly off its session highs of 99.36 in recent minutes. At this juncture the pair is operating at +1.03% above its opening.

According to Research Analyst Gareth Berry at UBS, “In terms of the USD/JPY, the intraday indicators suggest a bullish trend, as there is scope for a test of resistance at psychological 100.00; a break above would open 101.45, while support is at 97.22 and 95.80.”

“We didn’t witness a sustained breakout above yesterday’s detected strong resistance at 98.65 despite the positivity appearing on technical indicators. This positivity may damage the classical structure-rising wedge- and thereby, we prefer to be neutral today for the USD/JPY.” notes the ICN.com analyst team.

Markets will be watching to see if Japan comes under fire as they continue to flaunt their taste for controversial policies that have led to a rapid devaluation of their currency. The USD/JPY is already on the bounce this morning, moving just through the 99.00 level, as the market awaits for the inevitable break above 100.00.

Forex: EUR/GBP fall finds support at 0.8504 low

The EUR/GBP fell from just below 0.8550, dropped below the 0.8541 opening price but found support at the lower 0.85 area, with low at 0.8504. The mood in Europe is improving, but the British Pound is moving stronger than the EUR. As of writing, the cross is quoting around 0.8520/25.
Read more Previous

Forex Flash: Deflation remains an unhappy scenario for developed countries – UBS

In many developed countries, the post-crisis labor market has registered structural shifts, while any residual benefits from policy accommodation has been offset by austerity. According to Research Analyst Gareth Berry at UBS, “If headline and core price trends force central banks to tackle deflation head on, we may begin to see new policy shifts which would have important implications for currency markets. Central banks (just ask the BoJ) will acknowledge that getting out of deflation is much harder than inflation, so for the Fed, ECB and BoE - there may be an impulse to act very early to prevent expectations from arising altogether.”
Read more Next
Start livechat