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  1. #131
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    COZfx: Japanese Yen reverses its losses in the morning session

    COZforex: For the past trading session, the USD rose 0.20% against the JPY and closed at 113.45.

    In the Asian session (at GMT0400), the pair is trading at 113.21, with the USD trading 0.21% lower against the JPY from yesterday’s close.

    Earlier today, data showed that Japan’s preliminary leading economic index fell to a level of 103.9 in September. The index had registered a level of 104.5 in the previous month. Moreover, the nation’s flash coincident index eased to a level of 114.6 in September, compared to a reading of 116.7 in the previous month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 112.85 and a fall through could take it to the next support level of 112.48; Meanwhile, the pair is expected to find its first resistance at 113.70, and a rise through could take it to the next resistance level of 114.18.

    Looking ahead, investors would await Japan’s machine orders and trade balance data, both for September, set to release overnight.
    The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.


    (COZ forex UK)

  2. #132
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    COZfx: Sterling reverses its losses in the morning session

    COZforex: For the past trading session, the GBP dropped 0.68% against the USD and closed at 1.2852, amid renewed Brexit worries, following reports that Prime Minister, Theresa May had cancelled a cabinet meeting to approve a Brexit deal.

    In the Asian session (at GMT0400), the pair is trading at 1.2886, with the GBP trading 0.26% higher against the USD from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: GBP/USD is expected to find support at 1.2828 and a fall through could take it to the next support level of 1.2770; Meanwhile, the pair is expected to find its first resistance at 1.2944, and a rise through could take it to the next resistance level of 1.3002.

    Looking forward, investors would closely monitor UK’s average weekly earnings and ILO unemployment rate, both for September, slated to release in a few hours.

    The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.


    (COZ forex UK)

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