The EUR/USD has gone up since its weekly low after the FOMC Statement. Now, however, the pair seems to have plateaued in the absence of significant data. though there is Eurozone current account data scheduled to come out at 8:00 GMT, it is not expected to cause a huge amount of volatility. In addition, the weekend is approaching, and markets will be continuing to quite down. Look for support at 1.2834 and resistance at 1.2979.
USD/JPY
The USD/JPY has been rising all week despite better than expected Japanese trade balance data and some reservations from the Fed about raising the interest rate in the near term. The main source of bullishness on the pair is still divergence of the monetary policy aims between the Federal Reserve and the Bank of Japan. Whereas the Fed is undertaking measures to tighten monetary policy (strengthening the dollar), the BoJ is taking measures to loosen the money supply(weakening the yen) thus, int the long term, the pair may continue to climb.. For now, we may not see too much activity as markets quiet down, though a slight retracement is possible. Look for support at 107.36 and resistance at 109.45.
September 19, 2014 – Forex News
EUR/USD
The EUR/USD has gone up since its weekly low after the FOMC Statement. Now, however, the pair seems to have plateaued in the absence of significant data. though there is Eurozone current account data scheduled to come out at 8:00 GMT, it is not expected to cause a huge amount of volatility. In addition, the weekend is approaching, and markets will be continuing to quite down. Look for support at 1.2834 and resistance at 1.2979.
Related Posts: