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Forex: EUR/JPY advances continue to be capped at 130.50

FXstreet.com (Barcelona) - The EUR/JPY finished the session down 45 pips at 129.40. Initially the pair had traded as high as 130.36, but was again capped just below the 130.50 level for the third day in a row. There will be no upcoming economic releases from Japan in the coming session, while the main focus in Europe will be German Industrial Production due out at 10:00GMT. Currently, the pair is leaking lower during Asia trade, down 34 pips at 129.19.

According to Val Bednarik of FXStreet.com, “Yen gathered some temporal strength against most rivals, following the revision of Japan Q4 GDP, discovered by accident: annualized nominal GDP was corrected to -0.5% from -1.3%, among other huge revisions due to initial miscalculations. However, the overall positive sentiment that took over markets mid American session, prevented the pair from falling further.“

She went on to add, “Ahead of Asian opening, the hourly chart shows price heading south and nearing 129.20, base of these last few days. The pair has set a triple roof in the 130.40 price zone, and a break below mentioned low, neckline of the figure, should anticipate further slides in the pair, towards 128.40 for this Wednesday.”

Forex: AUD/JPY still above key 100 level

AUD/JPY is last at 100.58, off recent session lows at 100.41, following some stops being tripped in USD/JPY, markets sources report: “USD/JPY just had a small dip lower to 98.64 as stop loss orders below 98.80 get triggered,” FXBriefs editor Peter Fell said, adding: “Sources says there are decent buy orders around 98.50 and similar size sell orders at 99.30.”
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Commodities Brief: Precious metals finish lower as US equities continue to outperform

It was another solid day for equities, with the S&P 500 closing at another new all time high of 1625.96. However, the commodities markets were not as fortunate with precious metals and oil unable to finish the day in positive territory. Perhaps it was the interest rate cut by the RBA during the Asia session which helped lead to the weakness in commodities. In any event, gold closed the day sharply lower, down 1.17% at 1451.80, while silver managed a slightly better showing finishing down 0.33% at 23.92 (well off the lows of 23.40). On a final note, oil closed 0.28% at 95.52.
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