Sunday, October 7, 2018

USD/JPY - 08 October 2018


Fundamental Highlights

Today is a Bank holiday in both the U.S. and Japan. Because of this, volume and volatility may be relatively low. Moreover the pair was driven by U.S. Treasury yields during last week's sessions. But since the Treasury market is closed as well today, the pair may trade on the back of the movement of the U.S. stock market which is open. In addition, there are no reports scheduled for today's session so the price action will mainly be impacted by way stocks trade.

Technical Analysis

The pair is trading slightly higher during the beginning of today's session. Although there may be low volume ahead, the pair may move upwards in the direction of the 114.03 resistance level. During today's session, USD/JPY seems to be a good buy.

Support: 113.67 113.57
Resistance: 114.03 114.53

Chart (H1)