Talk in the market that the BoJ could be looking at new easing measures could support the pair, however price action is largely going to be dictated too by the...

Chris Weston

Pepperstone

Talk in the market that the BoJ could be looking at new easing measures could support the pair, however price action is largely going to be dictated too by the raft of US data (see gold wrap). Traders will be watching for a daily close (09:00 AEST) below yesterday's low of 102.23, for the pair to print a bearish daily reversal, which could signal a change in the trend. A close above 102.23 though could signal a buying opportunity given the pullback from overbought levels at 103.38.


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Chris Weston
Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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