TRADING
TIPS :
USD/JPY hit fresh six year highs of
107.04 and was last up 0.08% at 106.94 as the diverging monetary
policy stance between the Federal Reserve and the Japanese central
bank continued to pressure the yen lower. A study by the San
Francisco Fed published on Monday indicated that Fed officials see
rates rising earlier than markets expect.The Fed is expected to cut
its asset purchase program by another $10 billion next Wednesday,
which would keep it on track for winding up the program in October,
and to start raising interest rates sometime in mid-2015.The bank
also lowered its inflation forecasts said it expects a further
depreciation in the kiwi.
INTRADAY
OUTLOOK
Support:
106.50
Resistance:
107.23
RECOMMENDATION:
1.
Buy USD/JPY Above 107.25-TG:107.45/107.75 SL 106.95
2.
Sell USD/JPY Below 106.47-TG:106.27/105.97 SL 106.77
INTRADAY
OUTLOOK
Immediate
Support:1.6198
Immediate
Resistance:1.6271
RECOMMENDATION:
1.
Buy GBP/USD Above 1.6273-TG:1.6293/1.6323 SL 1.6243
2.
Sell GBP/USD Below 1.6195-TG:1.6175/1.6145 SL 1.6225
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