USD/JPY TECHNICAL OUTLOOK : 03.10.2016

USD/JPY TECHNICAL OUTLOOK : 03.10.2016

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USD/JPY. Pair after opening at 101.24 and made high of 101.49 and was trading volatile between range of 100.50-101.50 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 selling near 102 resistance

Fundamental Overview

Yen is trading at 101.43, depreciating against the US dollar as markets’ risk appetite improved. Manufacturing index data reported this morning was below expectations and added to the retreat of Yen from near the 100 levels that were seen yesterday. With the return of risk appetite, expect further weakness in Yen towards the 102.00 mark in today’s trade.

Economic Data & News

TIME COUNTRY DATA SURV PREVIOUS

05:20:00 JPY Tankan All Big Industry CAPEX (Q3) 6.80% 6.20%
05:20:00 JPY Tankan Big Manufacturing Outlook Index (Q3) 8 6
05:20:00 JPY Tankan Large Manufacturers Index (Q3) 7 6
05:20:00 JPY Tankan Large Non-Manufacturers Index (Q3) 18 19
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