OctaFX | OctaFX Forex Broker
Abrir una cuenta

Forex: USD/JPY above 98.00 again

FXstreet.com (Barcelona) - After first batch of better than expected data for Japan including unemployment figures and household spending, that jumped to +5.2% year on year from previous +0.8%, biggest increase sin year 2004, then came worse than expected retail sales and industrial production, taking USD/JPY above 98 round, last at 98.06, off recent session highs at 98.12. Nikkei index is down -0.4% for the day, after being closed for its 3-day weekend.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows 100 SMA crossing 200 one around 98.80, now latest daily resistance, while indicators turn flat around their midlines,” the analyst says, adding: “Clear break below 97.20 is now required to confirm a bearish extension, although the pair may maintain the range until upcoming Central Banks decisions and US employment figures, later this week,” she suggests.

Valeria sees support levels at: 97.50, 97.20 and 96.80, while resistance levels at: 98.20, 98.60 and 99.10.

Forex: USD/SGD – Head & Shoulders Pattern completed on daily chart?

The USD/SGD traded lower for a third day in a row, finishing down 20 pips at 1.2338. The pair has declined by 81 pips over in recent days as the “risk on” theme continues in equities and commodities, while the US Dollar has been primarily weaker across the board. Economic data out of Singapore will be limited to the Unemployment Rate (Q1), which will be released at 5:00 GMT. Later on in the US Session, we will see S&P Case Shiller Index, Chicago PMI, and Consumer Confidence.
Leer más Previous

EUR/AUD – More consolidation before the next leg up?

The EUR/AUD finished the day down 14 pips at 1.2655. Over the last 10 days the pair has been consolidating in what appears to be a “bull flag” continuation pattern. Economic data in the upcoming European session will feature German Retail Sales, German Unemployment Change, and Spanish GDP.
Leer más Next
Start livechat