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| Action Insight Market Overview | Markets Snapshot |
Daily Report: Yen Remains Soft as BoJ Minutes Revealed Some Concerns on GrowthYen remains soft in tight range against other major currencies. Meanwhile, markets are generally quiet in holiday trading today. BoJ released minutes of the November 20-21 meeting. A point to note is that two members expressed some concerns over slowdown in GDP growth in Q3. One member worried that the reduction in growth rate was not temporary but "could represent a downward shift in the trend." Meanwhile, another member showed concern on the large contribution from inventories and fall in wages. Nonetheless, many members were optimistic that the GDP data "continued to show positive movements, particularly domestic demand". |
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| Featured Technical Report | |
GBP/JPY Daily OutlookDaily Pivots: (S1) 170.26; (P) 170.53; (R1) 170.95; More..... As long as 166.57 support holds, further rise is expected in GBP/JPY. Above 171.18 will target 161.8% projection of 147.61 to 159.98 from 156.63 at 176.64. However, considering bearish divergence condition in 4 hours MACD, break of 166.57 support will indicate near term reversal and bring deeper pull back. |
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Remark: Due to X'mas and New Year holidays, next Candlestick and Ichimoku Trade Idea update will be made on 2nd Jan 2014 Candlesticks Intraday Trade Ideas Update Schedule (GMT): Elliott Wave Daily Trade Ideas Update Schedule (GMT): | |||||||||||||||||||||||||
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