TRADING
TIPS :
USD/JPY was 0.17% at 107.28, up from a
session low of 106.97 and off a high of 107.40.The pair was expected
to test support at 104.67, last Friday’s low, and resistance at
108.0, the high from Sept. 19, 2008.The Thomson Reuters/University of
Michigan preliminary consumer sentiment index rose to a 14-month high
of 84.6 this month from 82.5 in August. Analysts had expected the
index to rise to 83.3 in September.The report came after official
data showed that U.S. retail sales rose 0.6% last month, in line with
expectations. Retail sales for July were revised to a 0.3% gain from
a previously estimated flat reading.Friday’s data fueled already
growing expectations that the Federal Reserve will hike interest
rates earlier than markets were expecting, with tightening seen
taking place now in mid-2015
INTRADAY
OUTLOOK
Support:
106.63
Resistance:
107.45
RECOMMENDATION:
1.
Buy USD/JPY Above 107.47-TG:107.67/107.97 SL 107.17
2.
Sell USD/JPY Below 106.60-TG:106.40/106.10 SL 106.90
INTRADAY
OUTLOOK
Immediate
Support:1.6231
Immediate
Resistance:1.6284
RECOMMENDATION:
1.
Buy GBP/USD Above 1.6286-TG:1.6306/1.6336 SL 1.6256
2.
Sell GBP/USD Below 1.6230-TG:1.6210/1.6180 SL 1.6260
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