OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 St. Louis Fed head Bullard worried about rising US yields FXstreet.com (Barcelona) - St. Louis Fed President James Bullard expressed his worries about the increase in the benchmark US 10-year bond yields, after they hit a two-year high on Thursday. "I think it is a concern," he admitted, speaking at the Breakfast with the Fed event sponsored by the Bank’s Louisville Branch. He added however that "the level of yields now is still quite low by historical standards." Bullard referred to the situation of the US housing market, which in his opinion is strong enough overcome the higher yields. He also suggested there were currently no major asset bubbles which could undermine financial stability in the US. As far as the Fed QE tapering prospects are concerned, Bullard reiterated that reducing asset purchases too aggressively could lead to a further drop in inflation. That is why initially QE could be scaled back only by a small amount. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 US EIA Natural Gas Storage change falls to 65B in August 9 from 96B Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 AUD/USD bounces off lows, though downtrend remains FXstreet.com (New York) - The AUD/USD technical pair took a tumble Thursday morning during US trading, as the USD had its way with the AUD after the release of earlier US CPI and employment data. Having bottomed out at 0.9058 (session low), the AUD/USD is now navigating the region of 0.9085, en route to a staunch decline of -0.41% off its opening. Briefing the technicals, the AUD/USD blew through previous support at 0.9103, and will now look to 0.9052 and 0.9023 to suspend any further collapse, calculates the Mataf.net analyst team. AUD/USD strategic bias According to Axel Rudolph, an analyst at Commerzbank, “The AUD/USD is bouncing off the breached downtrend channel line at 0.9050 and has the 55-day MA at 0.9247 back in focus. Between it and the 0.9319 July high we should see failure and the resumption of the longer-term bearish trend. Longer-term we remain negative and our downside target is seen at 0.8550, the 50% retracement of the move up from 2008. Our longer-term downside target measured from the top is 0.7700.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 USD/JPY unstable below 98.00? FXstreet.com (New York) - The USD/JPY foreign exchange rate has been entrenched in negative territory Thursday, careening off a ledge and tumbling below the 98.00 region during US trading. USD/JPY strategic bias According to Jim Langlands at FX Charts, “On the topside, above 98.40, the 200-day MA lies at 98.68. A sustained move above here would see a move towards 99.00 and eventually 100.00. There are plenty of sellers lined up at the higher levels and I would really be quite surprised to see the dollar trade much above the 200-day MA today. On the downside, 97.90 is the immediate support. Below this further bids are likely at 97.75 and then 97.50. I would be surprised to see it back down here either, but if wrong, further bids should be found at 97.20.” USD/JPY technical levels The USD/JPY has recovered the mark of 97.88 in these moments, after touching the 97.59 level earlier (session low). At this juncture, the pair is incurring a loss of -0.26% off its opening during US trading. Technically speaking, the USD/JPY will face support at 97.64, ahead of 97.37, and 96.98. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 US Dollar Index losing its shine FXstreet.com (Edinburgh) -After a quick spike beyond 81.90 post-jobs data, the greenback – gauged by the US Dollar Index – is trading back to the negative territory around 81.65/70. DXY keeps the red on mixed data The cheerful tone on multi-year lows of Initial Claims - level last seen in October 2007 - was rapidly eclipsed by the industrial production and regional manufacturing indices bellow forecasts, prompting the world’s reserve to scale back initial gains. Daragh Mayer, Senior FX Strategist at HSBC Research, assessed, “despite the market's recent focus on the prospects for Fed tapering, there is not yet strong evidence that this theme has started to dominate. This may change once market activity picks up again in September, but for now local news may be more important than global developments in driving FX rates”. DXY levels to watch The index is now losing 0.08% at 81.67 with the immediate support at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20). On the upside, a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 EUR/USD climbs to highs around 1.3350 FXstreet.com (Edinburgh) -A sudden bout of buying interest catapulted the EUR/USD to fresh weekly highs around 1.3350 on Thursday, although giving away some pips afterwards. EUR/USD extends upside beyond 1.3300 It seems this is the push the single currency was looking for in order to follow through 1.3300 the figure. Although the catalyst remains yet unknown, market chatter places stop orders triggered after the USD/JPY fell to session lows around 97.30. EUR/USD levels to watch As of writing the pair is advancing 0.48% at 1.3320 with the next resistance at 1.3345 (high Aug.12) followed by 1.3391 (high Aug.9). On the downside, a breach of 1.3188 (low Aug.2) would open the door to 1.3179 (MA30d) and then 1.3164 (low Jul.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 USD/CHF, smashed by the bears? FXstreet.com (Chicago) - USD/CHF tops losers among major currency pairs accumulating 0.73% daily losses and dropping to 0.9248 intraday lows. Price action reveals a strong bearish sentiment among market participants as the pair has been sent to new grounds within seconds. At 0.9259, the pair trades between supports at 0.9262 (June 16th highs), 0.9237 (August 6th lows) ahead of 0.9214 (August 10th lows) and resistances at 0.9286 (August 7th highs), 0.9310 (June 22nd lows) followed by 0.9330 (July 31st highs). According to the FXstreet.com trend index the pair is slightly bearish on one-hour timeframe analysis with a MACD pointing down. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 GBP/JPY, persists on upswing FXstreet.com (Chicago) - GBP/JPY accumulates 0.21% gains so far despite strong retracement from 153.20 zone earlier today. Earlier in the UK, retail sales data triggered a bullish reaction as the pair peaked above 153.20. At 1.1% (MoM), retail sales were better than expected as projections were at 0.6%. Similarly, retail sales ex-fuel matched 1.1% to outbeat the same estimates, up 0.5%. Since the data was released, the price has cascaded to the 152.32 zone to trade at 152.26 between supports at 152.00 (July 16th highs), 151.76 (June 21st highs) ahead of 151.55 (July 8th highs) and resistances at 152.33 (July 22nd lows), 152.65 (July 31st highs) followed by 152.96 (July 28th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis, navigating above EMA20. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 15, 2013 Author Share Posted August 15, 2013 GBP/USD catapults higher as 1.5600 barrier fails to curb advance FXstreet.com (New York) - The GBP/USD foreign exchange rate surged to fresh highs Thursday, streaming above the 1.5600 level during US trading. Technically speaking, the GBP/USD is now operating at 1.5638, securing a steadfast gain of +0.87% above it’s opening during US trading. With the GBP/USD already breaking resistance at 1.5621, the next level of correction will attempt to stymie an advance at 1.5695, notes the Mataf.net analyst team. GBP/USD strategic bias According to the Technical Analyst Team at ICN.com, “The GBP/USD is attempting to the upside but notably breached the 78.6% correction at 1.5550. This level represents an intraday interval and a break above this will avert a bearish correction during the US session especially, despite the fact the stochastic is still negative.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 16, 2013 Author Share Posted August 16, 2013 Gold held at 1365 resistance, silver testing 23.00 FXstreet.com (New York) - Precious metals have clung to their gains Friday, held by respective resistances that have retraced off of earlier highs. Gold testing 1365 resistance Gold prices initially broke the 1365 resistance and traded as high as 1373 earlier today, though during US trading prices have retreated back to 1365. Despite this easing however, the bullish momentum remains strong, and accordingly a bullish scenario is still maintained. At the time of writing, gold prices are trading at USD $1365.35 per oz. Friday. Silver testing 22.00 Silver breached the 23.00 level earlier today, trading in the heights of 23.27 (daily high) before an easing back towards the 23.00 resistance. Ultimately the technicals still support a push higher, with the MACD in positive territory supporting the bullish wave, and the possible breakout continues to be effective. The price of silver has now moved to USD $23.05 per oz. during US trading. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 16, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 16, 2013 Author Share Posted August 16, 2013 Flash: EUR/USD targets 1.3417 resistance with bullishness intact – UBS FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses. Key quotes “With bullish conditions in place, the EUR/USD has its first resistance focus at 1.3417, a break above which would open 1.3520. Support is at 1.3206 ahead of 1.3154, suggesting a bullish outlook.” In terms of the EUR/CHF, “With the MACD threatening to cross above its zero line, the risk is for more upside. Resistance is at 1.2466/85. Support is at 1.2331 ahead of 1.2268.” Moving to the EUR/GBP, “The cross closed below 0.8540 and this is a bearish trigger, indicating scope for a move 0.8469 and test the important support at 0.8398. Resistance sis at 0.8569 ahead of 0.8610.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 16, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 16, 2013 Author Share Posted August 16, 2013 GBP/USD rejected from above 1.5650 FXstreet.com (Córdoba) - After repeated failure to decisively break above the 1.5650/55 area, GBP/USD turned lower and retraced some of its recent gains, dropping to fresh daily lows in recent dealings. The GBP/USD hit a fresh 2-month high of 1.5655, but was rejected from that level and surrendered gains, dipping into negative ground for the day. At time of writing, GBP/USD is trading at the 1.5610 zone, down 0.2% on the day, having scored a daily low of 1.5606 in recent dealings. GBP/USD levels to watch In terms of technical levels, immediate supports are seen at 1.5606/00 (daily lows/psychological level) and 1.5517 (200-day SMA). On the other hand, if GBP/USD manages to break above the 1.5650/55 area, next resistances could be found at 1.5678 (Jun 19 high) and 1.5700 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 16, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 16, 2013 Author Share Posted August 16, 2013 USD/CAD extends gains higher FXstreet.com (New York) - The USD/CAD foreign exchange rate has been performing remarkably better Friday, after a brush with negativity yesterday – a familiar path for most USD pairs. USD/CAD strategic bias According to the TD Securities Team, “On the charts, the USD/CAD did not avoid the whippy price action that has pervaded the market over the past 24 hours, but its moves were much tamer than many of the other major currencies. The short and medium term charts are still reflective of a consolidation phase for the pair, and the longer-term charts (weekly) suggest the bull trend is still intact. With that in mind, we still favor an ultimate break to the upside of the current neutral range, which is defined by 1.0250/1.0445.” USD/CAD technical levels The USD/CAD has moved up to 1.0347 in these moments, though is still trading below its highs at 1.0362 Friday. At this juncture, the pair is securing a gain of +0.40% above opening during US trading. Technically speaking, the USD/CAD will face resistance at 1.0365, onto 1.0405, notes the Danske Research Team. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 16, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 16, 2013 Author Share Posted August 16, 2013 USD/CAD extends gains higher FXstreet.com (New York) - The USD/CAD foreign exchange rate has been performing remarkably better Friday, after a brush with negativity yesterday – a familiar path for most USD pairs. USD/CAD strategic bias According to the TD Securities Team, “On the charts, the USD/CAD did not avoid the whippy price action that has pervaded the market over the past 24 hours, but its moves were much tamer than many of the other major currencies. The short and medium term charts are still reflective of a consolidation phase for the pair, and the longer-term charts (weekly) suggest the bull trend is still intact. With that in mind, we still favor an ultimate break to the upside of the current neutral range, which is defined by 1.0250/1.0445.” USD/CAD technical levels The USD/CAD has moved up to 1.0347 in these moments, though is still trading below its highs at 1.0362 Friday. At this juncture, the pair is securing a gain of +0.40% above opening during US trading. Technically speaking, the USD/CAD will face resistance at 1.0365, onto 1.0405, notes the Danske Research Team. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 16, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 16, 2013 Author Share Posted August 16, 2013 USD/CHF bounces from lows and erases losses FXstreet.com (Córdoba) - The US dollar managed to trim losses versus most competitors after disappointing data sent the greenback to daily lows. The USD/CHF bounced from a 4-day low of 0.9216, erasing intraday losses and rising back to the 0.9270 zone, where it is virtually unchanged on the day as another week comes to an end in Europe. USD/CHF technical levels As for technical levels, immediate resistances could be found at 0.9287 (daily high) and 0.9305 (100-hour SMA), while supports are now seen at 0.9216 (daily low) and 0.9200 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 16, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 16, 2013 Author Share Posted August 16, 2013 USD/CHF bounces from lows and erases losses FXstreet.com (Córdoba) - The US dollar managed to trim losses versus most competitors after disappointing data sent the greenback to daily lows. The USD/CHF bounced from a 4-day low of 0.9216, erasing intraday losses and rising back to the 0.9270 zone, where it is virtually unchanged on the day as another week comes to an end in Europe. USD/CHF technical levels As for technical levels, immediate resistances could be found at 0.9287 (daily high) and 0.9305 (100-hour SMA), while supports are now seen at 0.9216 (daily low) and 0.9200 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 16, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 16, 2013 Author Share Posted August 16, 2013 Flash: USD/JPY eyes upside, 98.67 the figure to break – UBS FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions. Key quotes Beginning with the USD/JPY, “Resistance is at 98.67, a close above this would extend the recent strength to 99.95 and then 101.53. Support is at 95.81 ahead of 93.79. “The strength over the past two days reinforces the bullish theme, opening the way to test the critical resistance at 1.5752. Support is at 1.5496..” Finally, in terms of the USD/CHF, “Fresh selling pressure materialized after testing the strong resistance at 0.9395. The risk is for a move below support at 0.9175 and test the important support at 0.9130. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 16, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 19, 2013 Author Share Posted August 19, 2013 NZD/USD retreats from 3-month high FXstreet.com (Córdoba) - The NZD/USD came under pressure during the European session and has been steadily receding ground ever since weighed by the decline in risk appetite. NZD/USD dips back below 0.8100 NZD/USD dropped nearly 90 pips from highs, breaking below the 0.8100 mark to bottom out at 0.8076 in recent dealings. At time of writing, NZD/USD is trading at the 0.8080 zone, still 0.4% below its opening price. NZD/USD technical levels As for technical levels, immediate supports for NZD/USD could be found at 0.8076 (daily low), 0.8050 (100-hour SMA) and 0.8015 (10-day SMA). On the flip side, resistances are seen at 0.8105 (100-day SMA) and 0.8162 (3-month high scored earlier). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 19, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 19, 2013 Author Share Posted August 19, 2013 US sells $25Bn in 6-month bills at 0.075% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 19, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 20, 2013 Author Share Posted August 20, 2013 Canada: Wholesale Sales dropped 2.8% in June FXstreet.com (Edinburgh) -Canadian Wholesale Sales contracted 2.8% on a monthly basis during June, missing forecasts at -0.7% and down from May’s 2.2% advance (revised). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 20, 2013 Author Share Posted August 20, 2013 USD/CAD reaches 1.0400 on weak Canadian wholesale sales FXstreet.com (Córdoba) - The USD/CAD extended gains to the 1.0400 area after data showed Canadian Wholesale Sales fell much more than expected in June (-2.8% vs 0.7% exp), weighing on the loonie. USD/CAD broke above the 1.0375 zone and jumped to a fresh 2-week high of 1.0400 before the psychological level halted the rise. At time of writing, USD/CAD is trading at the 1.0390 zone, where it records a 0.5% gain on the day. USD/CAD levels to watch If USD/CAD manages to break above 1.0400, next resistances could be found at 1.0430 (Aug 8 high) and 1.0450 (Jul 11 high). On the other hand, supports are seen at 1.0345 (session low) and 1.0300 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 20, 2013 Author Share Posted August 20, 2013 Flash: CAD, nervous trading environment - TD Securities FXstreet.com (Barcelona) - The CAD is opening up a little softer overall amid illiquid and somewhat nervous trading, said research teams at TD Securities. Key Quotes: “Developing market tensions remain front and centre but, for the most part, pressure on the likes of the INR and IDR have yet to spill more obviously over into the developed market space”. “Investors are unsettled though as rising US yields imply Fed tapering expectations are setting more firmly into the market psyche.” “Assets that have broadly benefitted from excess central bank liquidity such as large current account deficit, developing market currencies face a harder time attracting investment inflows and that trend is spilling over into the high beta FX pairs as well to some degree”. “USD/CAD is firmer but spot may be close to the upper end of the intraday range as we open up out session. We spot short-term resistance in the 1.0375/80 zone, ahead of key resistance on the daily chart at 1.0425/45”. “The technical picture turners more obviously bullish above here. Key support remains 1.0295/00 (rising trend support off the mid-June low) on the daily chart.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 21, 2013 Author Share Posted August 21, 2013 GBP/JPY eye's 153.00 FXstreet.com (Barcelona) - GBP/JPY is testing the 153.00 handle ahead of tonight’s main event. GBP/JPY has been a mixed pair while focus turned from GBP to Yen and back to GBP this week. Yields have been in the limelight with global bond prices looking to the Fed minutes this evening. Gareth Berry at UBS FX strategy had said that the US-Japan bond spread continues to widen in favour of USDJPY upside. “We look for more spread widening over the months ahead, as the Fed begins the process of QE3 tapering while the Bank of Japan continues to lean heavily on the JGB curve” Meanwhile, GBP/USD has been eyeing the 1.5700 psychological handle from the start of the week, but with the anticipation of the FOMC minutes coming up tonight, markets have been cautious around the outcome and trading has got off to a slow pace this week so far. The pair has remained in a tight range between 1.5630 and 1.5700. The calendar is very light this morning and afternoon for the pair, but again, the key focus today will clearly be the minutes from the July 30-31 FOMC as the market looks for signals in timing and scale of the Fed’s plans to taper its current QE policy. GBP/JPY has a positive bias GBP/JPY is trading with a positive bias yet again with the 20 DMA at 151.00, the 50 DMA at 150.90 and the 200 DMA is 145.90. RSI (9) prints 56.52. Supports are ascending from 149.80, 150.65, 151.20 and151.70. Spot is currently 152.77 while resistances are 153.10 153.60 154.05 154.65. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 21, 2013 Author Share Posted August 21, 2013 US Dollar Index challenges 81.00 FXstreet.com (Edinburgh) -The greenback, in terms of the US Dollar Index, is reverting the recent 2-day decline so far, hovering over the key support at 81.00 ahead of the FOMC minutes. DXY under pressure The USD would be under pressure today, as markets expectations point to a dovish tone from the FOMC minutes. “If USD selling is the result of today’s events, we would view that as a short term selling opportunity in consideration of the bigger picture outlook. The size and path of Fed tapering is not entirely certain, but in all likelihood should commence in the next month. In a broad sense, less accommodation should continue to be positive for yields and USD”, suggested G.Moore and S.Osborne, FX Strategists at TD Securities. DXY support/resistance levels At the moment the index is up 0.16% at 81.06 and a surpass of 81.94 (high Aug.15) would bring of 82.50 (high Aug.2) and then 83.12 (high Jul.15). On the downside, the initial support lies at 80.86 (low Aug.8) ahead of 80.75 (low Aug.20) and then 80.50 (low Jun.19). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 21, 2013 Author Share Posted August 21, 2013 USD/JPY still upwards ahead of FOMC release FXstreet.com (Athens) - USD/JPY is trading higher well above the 97.00 level amidst the fifth consecutive decline of Asian indices. USD/JPY eyes on FOMC minutes Investors keep waiting for details of discussions at the Federal Reserve’s last policy meeting to gauge when the central bank might pare its bond purchases, against the backdrop of mounting fears that the outing will confirm the beginning of the “tapering” in September. In another tone, Japan’s raised severity of latest Fukushima leak to level 3 ("serious" radiation "incident") on international scale. Fukushima leak and Asian indices jitters, helped a lot to remain above the 97.00 level, despite extended dollar weakening and volatility, ahead of FOMC today’s meeting. Data-wise, the Japanese currency might also being hurt by dismal supermarket sales reported in July down 0.5%, versus up 2.7%, on a yearly basis. Technical outlook on USD/JPY At the time of writing, USD/JPY is trading at 97.50, up 0.24%.The FXstreet.com Trend Index shows the pair to be slightly bearish. Investors should bear in mind that Nikkei Index down 0.79% as USDJ/PY is up 0.18%. Correlation between the two has risen from 0.41 for the past year to 0.65 for the past week. Daily pivot point support can be found at 97.00, 96.82, 96.57 and resistance at 98.09, 98.17 and 98.33, respectively. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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