USD/JPY TECHNICAL OUTLOOK : 21.09.2016

USD/JPY TECHNICAL OUTLOOK : 21.09.2016

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USD/JPY. Pair after opening at 101.84 and made a low of 101.51 and was seen selling pressure from the higher levels, now pair is having a strong support at 100 medium term but the pair is also having a strong supply is coming in around 104 levels but key event is there so the pair is likely volatile

Fundamental Overview

Yen is trading at 101.60, trading on a marginally positive note before the key Bank of Japan monetary policy statement that is to be reported today. It has to be a very aggressive policy to satisfy the investor hunger for additional stimulus; else we can expect Yen to appreciate further. Once the volatility surrounding this decision subsides, the FOMC policy would be in focus.

Economic Data & News

TIME COUNTRY DATA ACTUAL SURV PREVIOUS
05:20:00 JPY Adjusted Trade Balance 0.41T 0.50T 0.34T
05:20:00 JPY Exports (YoY) (Aug) -9.60% -4.80% -14.00%
05:20:00 JPY Trade Balance (Aug) -19B 202B 514B
09:00:00 JPY BoJ Monetary Policy Statement (YoY)
09:00:00 JPY Interest Rate Decision -0.15% -0.10%
12:00:00 JPY BoJ Press Conference 
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