USD/JPY
USD/JPY Fundamental Analysis February 8 , 2012, Forecast

USD/JPY Fundamental Analysis February 8 , 2012, Forecast

Economic Events: (GMT)

There are no economic events scheduled in Japan or the US that should effect the markets, today.

Analysis and Recommendation: ( close of Asian session )

USD/JPY was trading at 76.64. The dollar continued to firm as the Greek crisis continues on.

A news release this morning is still being calculated into the markets. It seems that Japan's government and central bank conducted 1 trillion yen ($13 billion) worth of unannounced forex intervention in early November, according report. Japan's last public move into the forex markets was on Oct. 31, but the report cited unnamed sources as saying further action took place after that date to seek to depress the value of the yen. Early Tuesday, the dollar was buying ¥76.56. Later Dow Jones Newswires report said foreign-exchange that Japan sold ¥8.07 trillion on Oct. 31 and another ¥1.02 trillion in the days following, with the intervention continuing through Nov. 4.

The dollar will continue to move upwards today with little economic news due.

Economic Data results prior trading 

 AUD
Retail Sales (MoM)

-0.1% 

      0.2%

    0.1%

EUR

German Factory Orders (MoM)

1.7%

0.5%

-4.9%

CAD

Ivey PMI

64.1

57.8

63.5

NZD

Labor Cost Index (QoQ)

0.7%

0.5%

0.5%

Scheduled Sovereign Bond Sales

Feb 08 10:10 Sweden Nominal bond auction

Feb 08 10:30 Germany Eur 4.0bn Feb 2017 Bobl

Feb 08 10:30 Swiss Bond auction

Feb 08 16:30 Italy Details BOT auction on Feb 13

Feb 08 18:00 US Auctions 10Y Notes

Feb 09 10:10 Sweden Sek 0.75bn I/L bond auction

Feb 09 15:30 Sweden Details I/L bond auction on Mar 23

Feb 09 16:00 US Announces auctions of 30Y TIPS on Feb 16

Feb 09 16:30 Italy Details BTP/CCTeu auction on Feb 14

Feb 09 18:00 Italy Auctions 30Y Bonds

Feb 10 11:00 Belgium OLO auction

USD/JPY Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
76.2387
76.3738
76.5207
76.6558
76.8027
76.9378
77.0847

 Fibonacci
76.3738
76.4816
76.5481
76.6558
76.7636
76.8301
76.9378

 Camarilla
76.5900
76.6158
76.6416
76.6558
76.6933
76.7192
76.7451

 Woodie's
-
76.3768
76.5265
76.6587
76.8085
76.9407
-

 DeMark's
-
-
76.8702
76.6896
76.5883
-
-