OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/JPY pushing higher, still negative for the week below 130

FXstreet.com (Barcelona) - EUR/JPY is currently pushing to the upside last at 129.68 on the back of Yen weakness as Nikkei index just opened in Tokyo at fresh almost 5-year highs above the 13700 points mark. The cross is still barely below previous weekly close Friday, mostly due to Euro weakness, but managing to bounce from yesterday's weekly lows at 127.90.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “the hourly chart shows indicators flat barely above their midlines, while price struggles just above 100 and 200 SMA’s,” the analyst says, adding: “In the 4 hours chart a certain negative tone develops, although needs to be confirmed with steady losses below the 128.80 area, at least for today.” In case of gains, she notes: “above 130.10 should open doors for and advance towards 130.60, while a break above this last should signal a retest of the 131.20/30 price zone,” Ms Bednarik suggests.

Valeria finds support levels at: 128.80, 128.20 and 127.60, while resistance levels at: 130.10, 130.60 and 131.30.

Forex Flash: We believe sentiment regarding Gold has become to bearish – Nomura

The gold market was unable to continue its previous 5 day winning streak, closing down 0.91% at 1412.70. Some analysts are looking at sentiment figures and the options market for keys to the next move.
Read more Previous

Forex: USD/JPY well bid during Asia session, focus remains on 100.00 level

The USD/JPY closed the day up 7 pips at 99.37. The pair traded in a wide range, initially selling off after the China PMI data, and then ducking as low as 98.48 during the European session after the German PMI release. However, dip buyers stepped in at this level and the pair drifted higher much of the afternoon. USD/JPY is well bid thus far in the Asia session, up another 34 pips at 99.70.
Read more Next
Start livechat