USD/JPY TECHNICAL OUTLOOK : 02.03.2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USD/JPY. Pair after Opening at 112.85 the pair made a low of 112.77 and trade with some positive bias the pair a strong bull candle after testing the supports of 111.5 and reversed from that levels and now the pair can head towards the upper boundary range of 114.90 if mange to sustain above 113 levels so intraday traders shall utilize dips to buy the pair.
Fundamental Overview
Yen is trading at 113.96, continuing to depreciate against US dollar. USD/JPY pair has rebounded from the levels of 112.92 made a 13 day’s high of 114.01 in yesterday’s session. The key reason for the move was US dollar, helped by the beige book report which stated that US economy activity expanded at a modest to moderate pace and better than expected ISM Manufacturing PMI data added some more weight to Yen. Expect downside to be limited in USD/JPY with a possiblity of 115.00 being tested.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:20 JPY Capital Spending (YoY) (Q4) 3.80% 0.60% -1.30%
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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USD/JPY. Pair after Opening at 112.85 the pair made a low of 112.77 and trade with some positive bias the pair a strong bull candle after testing the supports of 111.5 and reversed from that levels and now the pair can head towards the upper boundary range of 114.90 if mange to sustain above 113 levels so intraday traders shall utilize dips to buy the pair.
Fundamental Overview
Yen is trading at 113.96, continuing to depreciate against US dollar. USD/JPY pair has rebounded from the levels of 112.92 made a 13 day’s high of 114.01 in yesterday’s session. The key reason for the move was US dollar, helped by the beige book report which stated that US economy activity expanded at a modest to moderate pace and better than expected ISM Manufacturing PMI data added some more weight to Yen. Expect downside to be limited in USD/JPY with a possiblity of 115.00 being tested.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:20 JPY Capital Spending (YoY) (Q4) 3.80% 0.60% -1.30%
