Market Cap:
$237B
BTC Dominance:
65.61%
btc:
$8,647.84
eth:
$184.19
xrp:
$0.27
Advertise
Forex

10 Oct 2014 USD/JPY Analysis

10 Oct 2014 USD/JPY Analysis

dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics A retracement of the uptrend towards 107.1 would likely see the pair consolidate as per the 14-16 Sept before possibly rising again

dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics 107.3-107 remains the zone of the last support seen in Sept before the rally of the strong USD brought the pair towards 109

dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics The hourly charts shows a clear bearish trend as the downtrend is formed by lower highs and lower lows. Traditional MACD backs it up as well.

U.S Federal Reserve officials insist that how economic data evolves, rather than the date on the calendar, will determine the outlook for interest rates. They are nevertheless offering various views on the probable timing of the first increase since 2006.

The Fed’s pledge that interest rates will stay low for a “considerable time” Vice Chairman Stanley Fischer said today. New York Fed President William Dudley added this week that forecasts for the rate increase in mid-2015 as “reasonable.”

The lack of clarity swung traders clear of over-optimism on the U.S dollar as they continued to position their accounts for other safer haven bets, which drove the Yen to a 4 day high agains the dollar, and also kept demand for gold incoming.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish 106.19107107.38 108.24109109.38

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.