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.
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
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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