|
|
USD/JPY Outlook – October 17-21
Dollar/yen repeated its ritual of temporarily moving higher but this
time it managed to close above one resistance level Is it starting to
move? All Industries Activity is the main event this week. Here’s
an outlook for the Japanese events and an updated technical analysis
for USD/JPY.
Last week Japanese core machinery orders, increased dramatically by
11.0%, well beyond the 4.7% rise estimated by analysts indicating
future expansion in production activity bringing optimism to the
economy.
USD/JPY daily chart with support and resistance lines on it. Click to enlarge: |
|
|
