Market Cap:
$209B
BTC Dominance:
65.98%
btc:
$7,639.45
eth:
$161.60
xrp:
$0.24
Advertise
Forex

8 Oct 2014 USD/JPY Analysis

8 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 Yen gains the most against the dollar since April as the demand for safe haven sees USD/JPY trade at 107.8

8octujh4 Lower highs and lower lows see the USD/JPY break lower than the supporting trendline in blue (refer to Daily chart)

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 Resistances at 108.3-108.6 today will likely see Yen pare losses against the Dollar towards 107.22

The U.S Federal Open Market Committee (FOMC) will release the meeting minutes from its September meeting later today during the U.S session as investors are concerned over the likely increase in interest rates coming sooner rather than later. Job Openings and Labor Turnover Summary (JOLTS) figures yesterday revealed job creation, including farming, have been the best so far since 2007 as 4.84 million more job openings have been created, which did not come across as critical to traders as Yen continues its advance as the safe haven alternative.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight bearish107.22107.5107.8108.6109109.4

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.