Last Friday, the EUR/USD by the end of US session stabilized near the 1.2500 level. GBP/USD rate by the end of US session trading near 1.6000. The course is USD/JPY established the close of trading near 112.30. Analysts say that last Friday supporting the USD had released macroeconomic statistics for the United States. Also supporting the USD/JPY has had a significant growth of quotations on the US stock market. "Last Friday, US stock indices moved up," - noted the analysts of the Forex Broker Company FIBO Group.
At the same time, the Dow Jones NYSE rose 195.10 points (1.13%). The S&P 500 rose 23.40 points (+ 1.17%). The NASDAQrose 64.60 points (+ 1.41%). Last Friday, the DJ Euro Stoxx 50 rose 77.42 points (+ 2.55%). The index of the Frankfurt Stock Exchange Xetra DAX rose by 212.03 points (2.33%). Index of the London Stock Exchange FTSE 100 rose 82.92 points (+ 1.28%). Statistics for the euro area showed that the unemployment rate in September, 11.5% vs. 11.5%. The harmonized index of consumer prices (HICP) in October + 0.4% y / y vs. + 0.4% y / y. Basic HICP in October + 0.7% y / y vs. + 0.8% y / y.
Statistics on the US resulted in the following: personal income in September + 0.2% m / m vs. + 0.3% m / m + 0.1% m / m. Personal spending in September -0.2% m / m vs. + 0.1% m / m. Index of labor costs in the third quarter + 0.7% vs. + 0.5%. The index of business activity in the manufacturing sector in October Chicago PMI 66.2 vs. 60.0. The index of consumer sentiment University of Michigan in October, 86.9 vs. 86.4.
Trading recommendations
The consensus forecast of leading analysts on USD/JPY following: Course USD/JPY (112.68). Trading range: 112.00 -113.10. Trend - increase. From a technical point of view the market in the medium term bullish with the immediate goal of 113.00. The pair climbed to 114.05 on US data, and then fell back to 113.65 support, near daily highs and almost 200 pips. above the closing price on Friday.
Recommended tactics: USD/JPY: (trend neutral): Today it makes sense to trade within the corridor 112.00-113.10: better to be a small purchase from daily lows. "Actively moving foot followed by the market, protecting profits," - said the expert of FIBO Group (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
