Wednesday, October 3, 2018

USD/JPY - 04 October 2018


Fundamental Highlights

During yesterday's session the Dollar rallied against the Yen reaching the level of 114.55 which is a high that was last seen back in November 2017. During today's session there isn't any major news coming out of Japan. On the other hand investors will be awaiting to listen to the Federal Reserve Governor Randal Quarles who is expected to speak about trends in community banks at the Community Banking in the 21st Century conference at the Federal Reserve Bank of St. Louis. Moreover traders will be on the lookout for any news that may arise and might impact the pair.

Technical Analysis

The U.S. Dollar rallied against the Japanese Yen during Wednesday's session reaching the 114.55 level. The USD/JPY pulled back slightly at the opening of today's trading session. Although the day started off with a slight pullback, the Dollar/Yen may rally towards the 114.53 figure and may break it and continue further in the direction of the 114.65 level. During Thursday's session, the pair seems to be a good buy.

Support: 114.11 113.57
Resistance: 114.53 114.65

Chart (H1)