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Forex: USD/JPY bouncing off 101.50

FXstreet.com (Barcelona) - The Japanese yen is trimming some of last week’s losses on Monday, climbing back to the 101.70/75 region after finding support around the key 101.50 level.

According to Sean Callow, Strategist at Westpac, “Only the very brave would stand in the way, with momentum risking 102.50/103. Yet the US economy is probably still in its slow patch while MoF data shows only tentative JP demand for foreign bonds. Substantial risk of pullback n/t”.

At the moment the cross is losing 0.13% at 101.75 facing the next support at 100.79 (high May 9) and then 100.54 (low May 10).
On the upside, a break above 102.16 (high Ot.21 2008) would bring 102.42 (high Oct.20 2008) and finally the psychological level at 103.00.

Forex: EUR/JPY testing the 132.00 barrier

The EUR/JPY rebounded off of support and earlier lows incurred during the European session (131.57), as the majority of its losses were consequently pared Monday. However, the cross still is trading negatively and in these moments is testing the 132.00 barrier at 131.92/98, still down -0.15%.
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Forex Flash: Completed the bullish triangle - Commerzbank

Karen Jones Head of FICC Technical Analysis at Commerzbank and Axel Rudolph Senior Technical Analyst at the bank have noted that EUR/JPY last week eroded the 130.73/131.12 April peak and charted a close above here, which has completed the bullish triangle.
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