TRADING
TIPS :
The U.S. dollar was almost unchanged
against the yen on Wednesday, hovering close to an eight-year high as
demand for the greenback remained broadly supported by expectations
for a U.S. rate hike in the coming months. USD/JPY hit 123.31 during
European morning trade, the session high; the pair subsequently
consolidated at 123.05. The pair was likely to find support at
121.48, Tuesday’s low and resistance at 123.33, Tuesday’s high
and an eight-year high. Demand for the dollar continued to be
underpinned after data on Tuesday showed that U.S. business
investment plans increased, consumer confidence improved and house
prices extended gains.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5368 TARGET 1.5388 1.5418 SL 1.5338
SELL
GBPUSD BELOW 1.5342 TARGET 1.5322 1.5292 SL 1.5372
RECOMMENDATION:
BUY
EURUSD ABOVE 1.0922 TARGET 1.0942 1.0972 SL 1.0892
SELL
EURUSD BELOW 1.0885 TARGET 1.0865 1.0835 SL 1.0915
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