USD/JPY OUTLOOK - 30-08-2016

USD/JPY OUTLOOK - 30-08-2016

 NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut   : BUY ZONE

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USD/JPY. Pair after opening at 101.81and made a high of 102.39 and was seen buying pressure after the breakout above 100.80 the pair had bottom out and made a low of 98.98 and from there the pair had reversed and now trading near its 08Dma 102.35, the pair is not able to go below 99.levels and that has emerge as a strong support so any dip shall be utilized to buy the pair

Fundamental Overview

Yen is trading at 102.13, continuing to remain under pressure despite better than expected household
spending and retail sales data was reported this morning. Comments from Bank of Japan governor about additional easing and hawkish comments from FED chair and vice president limited any gains in the Yen. We expect this weakness in Yen to continue and sell the pair on every rise.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:00:00 AM JPY Household Spending (YoY) (Jul) -0.90% -2.20%
5:00:00 AM JPY Household Spending (MoM) (Jul) 1.10% -1.10%
5:00:00 AM JPY Jobs/applications ratio (Jul) 1.38 1.37
5:20:00 AM JPY Retail Sales (YoY) (Jul) -0.90% -1.40%
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