TRADING TIPS :
USD/JPY hit 108.10 during European late morning trade, the session high; the pair subsequently consolidated at 108.04, adding 0.20%. The pair was likely to find support at 107.08, the low of October 23 and resistance at 108.73, the high of October 8.The U.S. dollar edged higher against the yen on Tuesday, as sentiment on the greenback became mildly stronger ahead of the Federal Reserve’s highly anticipated policy statement due on Wednesday. In Japan, data on Tuesday showed that retail sales rose at an annualized rate of 2.3% in September, beating expectations for a 0.6% gain, after a 1.2% increase the previous month.Investors were eyeing the conclusion of the Fed’s two day meeting on Wednesday for any indications that a slowdown in growth in Europe or China could prompt the U.S. central bank to delay possible rate hikes.
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USD/JPY hit 108.10 during European late morning trade, the session high; the pair subsequently consolidated at 108.04, adding 0.20%. The pair was likely to find support at 107.08, the low of October 23 and resistance at 108.73, the high of October 8.The U.S. dollar edged higher against the yen on Tuesday, as sentiment on the greenback became mildly stronger ahead of the Federal Reserve’s highly anticipated policy statement due on Wednesday. In Japan, data on Tuesday showed that retail sales rose at an annualized rate of 2.3% in September, beating expectations for a 0.6% gain, after a 1.2% increase the previous month.Investors were eyeing the conclusion of the Fed’s two day meeting on Wednesday for any indications that a slowdown in growth in Europe or China could prompt the U.S. central bank to delay possible rate hikes.
INTRADAY
OUTLOOK
Support:1.6094
Resistance:
1.6121
RECOMMENDATION:
1.
Buy GBP/USD Above 1.6122-TG:1.6142/1.6172 SL 1.6082
2.
Sell GBP/USD Below 1.6090-TG:1.6070/1.6040 SL 1.6120
INTRADAY
OUTLOOK
Immediate
Support:107.97
Immediate
Resistance: 108.14
RECOMMENDATION:
1.
Buy USD/JPY Above 108.15-TG:108.35/108.65 SL 107.75
2.
Sell USD/JPY Below 107.95-TG:107.75/107.45 SL 108.35
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