Key PointsThe US Dollar after nosediving towards the 108.20 level against the Japanese Yen found support. There USDJPY pair is currently recovering, but facing a major bearish trend line at 109.10 on the hourly chart. Earlier today in Japan, the Merchandise Trade Balance Total for March 2017 was released by the Ministry of Finance. The outcome was better than the forecast, as there was a trade surplus of ¥614.7B, more than the forecast of ¥575.8B. USDJPY Technical Analysis
The US Dollar was under a lot of pressure against the Japanese Yen this past week, as it traded below the 108.50 support for a new weekly low of 108.17. Later, the USDJPY pair gained bids around 108.20, [...]
Key PointsThe British Pound recently faced resistance near 139.00 against the Japanese yen, and moved down. The GBPJPY pair, however found support near a bullish trend line at 137.75 on the hourly chart. Today in Japan, the Securities investment figure (March 31), released by Ministry of Finance came in at ¥584.5B. The Japanese Foreign bond investment (March 31) came in at ¥1,099.8B, up from the past revised reading of ¥-146.8B. GBPJPY Technical Analysis
The British Pound slowly and steadily moved down below 140.00 against the Japanese yen. There was a correction recently towards 139.00, but the GBPJPY pair faced hurdles, and moved down. A bearish trend line with resistance [...]
Key PointsThe British Pound recently moved higher and broke the 138.00 level against the Japanese yen. The GBPJPY pair also cleared a bearish trend line with resistance at 138.15 on the hourly chart. In Japan today, the Securities investment report (March 24, 2017) was released by Ministry of Finance. The result was a bit lower, as it came in at ¥-151.6B, compared with the last revised reading of ¥150.9B. GBPJPY Technical Analysis
The British Pound after a decline towards 137.50 against the Japanese yen found support and recovered. The GBPJPY pair was able to clear the 138.00 handle and a bearish trend line with resistance at 138.15 on the hourly chart.
The pair also [...]
Key PointsThe US Dollar made a downside move against the Japanese yen, and broke the support 117.30. The USDJPY pair went down, and also broke a bullish trend line on the hourly chart at 117.40. In Japan today, the Services Purchasing Managers Index (PMI) was released by Markit Economics. The result was above the forecast, as there was a rise from the last reading of 51.8 to 52.3 in Dec 2016. USDJPY Technical Analysis
The US Dollar made a downside move against the Japanese yen, and broke a couple of important support levels at 117.30 and 117.40. There was even a break below a bullish trend line on the hourly chart at 117.4.
The pair also went below the 21 [...]