USD/JPY TECHNICAL OUTLOOK : 31.08.2016

USD/JPY TECHNICAL OUTLOOK : 31.08.2016

NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut   : BUY ZONE

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USD/JPY. Pair after opening at 101.90and made a high of 102.45 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 103.00, depreciating the most against the US dollar in the last few sessions. US dollar dominance in the currency markets has triggered the selloff in Yen. Industrial production data for the month of July was reported at 0.0% against an expectation of 0.8% and the trend of Yen weakness is set to continue.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
5:20:00 AM JPY Industrial Production (MoM) (Jul) 0.80% 2.30%
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