USD/JPY TECHNICAL OUTLOOK : 07.10.2016

USD/JPY TECHNICAL OUTLOOK : 07.10.2016


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USD/JPY. Pair after opening at 103.60 and made low of 103.40 and was trading with positive bias and a strong session a day before yesterday after violating the resistance mark of 102-90-103 levels the pair had three positive session after violating 101.50 so now 103 will act as a strong support for intraday dips shall be utilize to buy the pair

Fundamental Overview

Yen is trading at 103.70, hovering near the 104.00 mark going into the US non-farm session. The US dollar strength can continue for the day but the pair is likely to take resistance near to the 105.00 mark. If the data is not up to the mark, expect a steep correction in USDJPY towards 102, else a price above 105 can be plausible.

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