USD/JPY TECHNICAL OUTLOOK : 29.09.2016

USD/JPY TECHNICAL OUTLOOK : 29.09.2016

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USD/JPY. Pair after opening at 100.41 and made high of 100.81 and was trading volatile between range of 100.00-101 levels the pair l violated the range and near range can be formed the range of 100-102 for coming sessions , 99.50 will act as a strong support while the strong resistance is coming at 103 so pair is likely to be volatile in this range, but intraday can see some bounce

Fundamental Overview

Yen is trading at 101.16, depreciating against the US dollar after trading close to the 100.60 mark in
yesterday’s session. Positive risk appetite, arising out of the oil deal dragged the Yen lower but a production freeze is an inverse relation and still has another month to be implemented. This rally is likely to fade and Yen is set to retreat towards 100 again.

Economic Data & News

TIME COUNTRY DATA SURV PREVIOUS
05:20:00 JPY Retail Sales (YoY) (Aug) -1.80% -0.20%
12:05:00 JPY BoJ Governor Kuroda Speaks 
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