Monday, October 1, 2018

USD/JPY - 02 October 2018


Fundamental Highlights

The U.S. Dollar opened up its final quarter strongly against the Japanese Yen after the positive agreement between the U.S, Canada, and Mexico. Today traders are awaiting to hear Federal Reserve Chair Jerome Powell speak. He will be talking about the outlook for employment and inflation at the National Association for Business Economics Annual Meeting in Boston. On the Japanese side, there isn't any major news or reports.

Technical Analysis

The U.S. Dollar rallied against the Japanese Yen during the first session of October. Although USD/JPY started today's session with a slight pullback, the pair may move in an upward manner towards the 114.05 area but may remain still thereafter unless any major news that may impact Dollar/Yen was released. During Tuesday's session the USD/JPY seems to be a good buy.

Support: 113.49 113.35
Resistance: 114.05 114.15

Chart (H1)