TRADING TIPS :
- Forex-Yen dips in Asian trade with Japan markets shut for holiday .
- Forex-Dollar mixed to higher on upbeat Philly factory gauge.
- Forex-EUR/USD dips as dollar firms on soaring Philly factory gauge.
EUR/USD was down 0.23% at 1.2525, up from a session low of 1.2504 and off a high of 1.2575.The pair was likely to find support at 1.2441, Tuesday’s low, and resistance at 1.2600, Wednesday’s high.Manufacturing activity in the Philadelphia-region expanded at its fastest rate since December 1993 in November, fueling optimism over the U.S. economic outlook, official data showed on Thursday.The Federal Reserve Bank of Philadelphia reported earlier that its manufacturing index improved to 40.8 this month from 20.7 in October.A soaring Philadelphia-area factory gauge sparked demand for the greenback over the euro on Thursday by stoking expectations for the U.S. economy to grow at a faster clip.
USD/JPY traded at 118.26, up 0.07% The Japanese yen weakened in early Asia on Friday with a light trading day expected.the dollar traded mixed to higher against most major currencies on Thursday after a robust Philadelphiaarea factory gauge sparked demand for the greenback on sentiments that the U.S. economy may be gaining steam.The Federal Reserve Bank of Philadelphia reported earlier that its manufacturing index improved to 40.8 this month from 20.7 in October.The yen fell to fresh seven year lows against the dollar on Thursday and hit a six year trough against the euro as the Bank of Japan’s decision to expand its easing program last month continued to pressure the currency lower.hit highs of 118.98, the most since August 2007 and was last up 0.76% to 118.82.
1. Buy EUR/USD Above 1.2587-TG:1.2607/1.2637 SL 1.2557
2. Sell EUR/USD Below 1.2525-TG:1.2505/1.2475 SL 1.2555