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.
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.
Octa trading broker
Open trading account
Back

USD/JPY sticks to daily strong gains, near mid-111.00s

   •  A large US acquisition by Japanese chipmaker prompted some JPY selling.
   •  Fading safe-haven demand further weighed on JPY’s safe-haven demand.
   •  Subdued USD price action does little to assist build on the positive move.

The USD/JPY pair now seems to have entered a bullish consolidation phase and was seen oscillating in a narrow range, just below mid-111.00s.

The pair built on last week's goodish rebound from over two-week lows and continued gaining positive traction for the third consecutive session on Tuesday. News that Japanese chipmaker Renesas was buying US counterpart Integrated Device Technology for about $6.7 billion in cash weighed on Japan’s currency.

This coupled with a slight improvement in risk sentiment, as depicted by a positive mood across equity markets, further weighed on the Japanese Yen's safe-haven status and provided an additional boost to the major.

However, a subdued US Dollar price action capped any further up-move and was seen as one of the key factors leading to a range-bound price action through the early European session. 

In absence of any major market moving economic releases from the US, the pair remains at the mercy of broader market risk sentiment and the USD price dynamics. 

Moving ahead, this week's important US macro data - consumer inflation figures and monthly retail sales data will now be looked upon for some fresh directional impetus.

Technical outlook

Omkar Godbole, Analyst and Editor at FXStreet writes, "the path of least resistance appears to be on the higher side. However, a break above 111.76 (last week's doji candle high) is needed to put the bulls back into the driver's seat."

"That said, only a move below 109.77 (August low) would confirm a bullish-to-bearish trend change. This scenario appears likely if the US President Trump opts for an all-out trade war with China," he adds further.
 

EUR/NOK poised to resume the downside – Danske Bank

Senior Economist at Danske Bank Vladimir Miklashevsky noted the Norwegian Krone is expected to gather traction in the next months. Key Quotes “With
Read more Previous

USD/JPY seen rangebound near term – UOB

The pair is expected to prolong the current rangebound them in the next weeks, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “USD trad
Read more Next