Economic Events: (GMT)

Close of the Asian Markets

Jan. 24                 

JPY Interest Rate Decision 0.10% 0.10%

JPY BoJ Press Conference

Bank of Japan (BOJ) policy board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. The Bank of Japan (BOJ) press conference looks at the factors that affected the most recent interest rate decision, the overall economic outlook, inflation and offers insights into future monetary policy decisions.

A higher than expected rate is positive/bullish for the JPY, while a lower than expected rate is negative/bearish for the JPY.

23:50 JPY Trade Balance 0.36T 0.54T

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.

Analysis and Recommendation:

USD/JPY was trading 77.05 with the USD edging up against the Japanese Yen in Asian trading

The Japanese yen lifted from 77.29 yen per US dollar to JPY76.91, and closed US trade near JPY76.94. on Friday.

The pair continue to trade in a close range, with the USD showing some strenght continuing from US trading on Friday.

There are several financial and economic reports due out in the US which should give the greenback a push upwards but for today and tomorrow expect the duo to trade between last weeks 76.91 and today's high of 77.08.

Upcoming Govt Bond Sales Dates

Jan 23  12:00  Norway  Details bond auction on Jan 30

Jan 24  09:30  Netherlands Eur 1.5-2.5bn Jan 2013 & Jan 2042 DSL

09:30  Spain  Auctions 3 & 6M T-bills

16:30  Italy   Details CTZ/BTPei on Jan 26 & BOT on Jan 27 &

18:00  US  Auctions 2Y Notes

Jan 25  10:10  Sweden  Nominal bond auction

10:30  Germany  Eur 3.0bn 3.25% Jul 2042 Bund

16:30  Italy   Details BTP/CCTeu on Jan 30

18:00  US  Auctions 5Y Notes

Jan 26  10:10  Italy   Auctions CTZ/BTPei

18:00  US  Auctions 7Y Notes

Jan 27  10:10  Italy   BOT auction

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

Name S1 S2 S3 Pivot R1 R2 R3

Classic
76.9483
76.8472
76.7763
77.0192
77.1203
77.1912
77.2923

Fibonacci
76.9535
76.9129
76.8472
77.0192
77.0849
77.1255
77.1912

Camarilla
77.0337
77.0180
77.0022
77.0192
77.0653
77.0810
77.0968

Woodie's
76.9635
76.8547
-
77.0268
77.1355
77.1988
-

DeMark's
77.1557
-
-
-
76.9838
-
-