OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY rebuffed by 100.00 level, turns negative

FXstreet.com (Barcelona) - The USD/JPY initially pushed higher Monday, unable to scale the psychological 100.00 barrier, whereby capping at 99.90 (session high). In recent minutes, the cross has traded sideways, paring its gains to settle negatively at 99.75/78 at the time of writing.

According to the UBS Research Team, “We think the currency pair is likely to trade above 100 in the near term as Japanese investors start to shift more funds abroad and expect the yen to weaken to 110 by year end.”

“The USD/JPY opened positively this week, as we see it stable on levels close to significant resistance levels extending around 99.85. In general, the pair is in the ascending channel and the linear regression indicators are positive supporting extending positivity.” notes the ICN.com analyst team.

Mataf.net analysts point to supports at 98.65, ahead of 97.49, and finally 96.88. On the ascension, a break above 100.43 will enable short-term resistances at 101.04, and finally 102.21.

Forex: GBP/USD drives back to 1.5240 high on London opening

As the week started, the GBP/USD printed its daily low at 1.5205, and after an Asian session capped by resistance at 1.5240, the pair returned to its lower band of the range just ahead of the London opening. Once the bell ringed, the market got back to resistance. The UK credit rating was downgraded by Fitch agency from AAA to AA+/stable Friday night.
Read more Previous

Forex Flash: EUR/USD came off Friday highs post Weidmann comments - OCBC Bank

Emmanuel Ng of OCBC Bank notes that EUR/USD came off intraday highs on Friday after the ECB´s Weidmann indicated that interest rates are at an appropriate level.
Read more Next
Start livechat