USD/JPY Attempts To Reclaim 115.00 Again

31/01/2017 07:59 AST

'The weak U.S. GDP is doing the dollar no favours. But it also takes courage to keep buying the dollar considering what Trump has said about the kind of a currency policy he could pursue.' – Mizuho Bank (based on Reuters)

Pair's Outlook
In spite of a weaker US GDP reading on Friday, the Greenback still managed to outperform the Japanese Yen, successfully reclaiming the 115.00 level. The Buck is expected to retain its strength and continue outperforming the Yen, but there is still an issue that could prevent the pair from edging higher: the USD/JPY opened with a bearish gap under 115.00, while also having the 20 and the 55-day SMAs providing immediate resistance just above the opening price. The US Dollar's rally is unlikely to last, as we are about to have a sell signal, implying the pair is to edge lower by week's end. At the moment, technical studies are unable to confirm either scenario.

Traders' Sentiment
Today 52% of all open positions are short (previously 50%). Meanwhile, the portion of buy orders inched down from 69 to 59%.


Action Forex

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
STC 83.41 257,644
DARALARKAN 13.47 74,648,349

Exchange Rate against US Dollar

US Dollar 1.00
Saudi Riyal 3.75
Derham Emirati 3.67
Qatari Riyal 3.65
Kuwaiti Dinar 0.30
Bahraini Dinar 0.38
Omani Riyal 0.39
Euro 0.81
British Pound 0.71
Japanese Yen 104.70

Recent News

Oman can defend its currency peg, central bank governor says

05/04/2018

Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said.

Oman’s g

Gulf News

China’s yuan to post biggest quarterly rise against dollar in a decade

02/04/2018

China’s yuan firmed against the dollar on Friday and is set to post its biggest quarterly gain in a decade, as the country attracts capital inflows and US trade frictions bolstered expectations of a

Gulf News

US dollar share of global currency reserves hits 4-year low — IMF

01/04/2018

The US dollar’s share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies’ shares of reserves grew, data rel

Gulf News

US dollar weighed down by trade and interest rate policies

29/03/2018

The US Dollar Index, a measure of the value of the US dollar against a basket of currencies, teetered and dropped to quarterly lows in March, which also happen to be the lowest the index has been sin

The National

Turkish lira weakens beyond 4 against dollar as economy worries weigh

29/03/2018

Turkey’s lira weakened beyond the psychologically important level of 4.0 to the US dollar yesterday, bringing it close to a record low, as concerns about double-digit inflation, and politics, continu

Gulf Times

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap