KLSE IForex Recommendations : Epic Research Malaysia

TRADING TIPS :

USD/JPY hit 112.99 during late Asian trade, the pair’s highest since November 2007; the pair subsequently consolidated at 112.66, rising 0.33%.The pair was likely to find support at 109.15, Friday’s low and resistance at 114.65.The yen came under broad selling pressure on Friday after the BOJ said it would raise its monetary base target to an annual increase of ¥80 trillion from ¥60-70 trillion yen in order to increase the chances of approaching its inflation goal.Meanwhile, demand for the dollar remained supported after the University of Michigan reported on Friday that its consumer sentiment index rose to a seven-year high of 86.9 this month from 86.4 in September.

INTRADAY OUTLOOK
Support:113.23
Resistance: 113.79

RECOMMENDATION:
1. Buy USD/JPY Above 113.81-TG:114.01/114.31 SL 113.51
2. Sell USD/JPY Below 113.20-TG:113.00/112.70 SL 113.50


INTRADAY OUTLOOK
Immediate Support: 1.5982
Immediate Resistance: 1.6025

RECOMMENDATION:
1. Buy GBP/USD Above 1.6027-TG:1.6047/1.6077 SL 1.5997
2. Sell GBP/USD Below 1.5980-TG:1.5960/1.5930 SL 1.6010

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