Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
26 Feb 2018

USD/JPY reverts gains, turns positive near 106.80

  • The pair rebounds from earlier lows in the 106.30 region on Monday.
  • US 10-year yields retreats to lows in the 2.85% area, 2-week lows.
  • Fed’s J.Powell to testify before Congress on Tuesday, focus on monpol.

The offered bias is predominating the atmosphere around the greenback on Monday, dragging USD/JPY to as low as the 106.30 region, where it seems to have found some dip-buyers.

USD/JPY attention to Powell

The pair is looking to consolidate in the lower end of the recent range following Thursday’s sharp pullback, with decent support emerging in the 106.50/30 band for the time being.

The strong retracement from yields in the US 10-year note is also sustaining the pair’s downside. Yields have shed around 10 bps since last week’s multi-year peaks in the 2.96% area.

Later in the week, the pair should stay wary on the Humphrey-Hawking testimony by Chairman J.Powell due tomorrow, with the main focus on the normalization of the monetary policy and in light of the rising debate in the markets around 3 or 4 rate hikes this year.

On the positioning front, JPY speculative net shorts dropped to the lowest level since October 2017 during the week ended on February 20, according to the latest CFTC report.

USD/JPY levels to consider

As of writing the pair is up 0.03% at 106.82 and a breakout of 107.92 (high Feb.21) would expose 108.10 (21-day sma) and then 110.48 (high Feb.2). On the downside, the next support aligns at 106.38 (low Feb.26) seconded by 105.53 (2018 low Feb.16) and finally 102.54 (low Nov.3 2016).

Feb 26, 2018

Fed's Bullard: Rate guidance from here should outline a relatively flat policy path

St. Louis Fed President James Bullard was out on the wires in the last minute, saying that low US productivity and global demand for safe assets is ho
Read more Previous
Feb 26, 2018

GBP/USD eases from 6-day tops, back below mid-1.4000s

   •  A modest USD rebound prompts some profit-taking slide.    •  Dovish remarks by Fed’s Bullard help limit further retracement.  The GBP/USD pair
Read more Next