USD/JPY TECHNICAL OUTLOOK : 06.09.2016

USD/JPY TECHNICAL OUTLOOK : 06.09.2016

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE

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USD/JPY. Pair after opening at 103.33 and made a high of 103.72 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 103.35, 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 103.56, remaining near the 103.00 mark since Friday. Bank of Japan governor kuroda spoke this morning and talked about the costs of easing but failed to delivery any hints about further easing. Markets would be waiting for the next BOJ meeting on the 20th of September for additional easing and the currency is likely to remain range bound till that date.
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