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USD/JPY: Bears take a breather, selling stalls near 108.50

The bears took a breather from the ongoing downward spiral, allowing a minor recovery in USD/JPY from session lows just near the mid-point of 108 handle.

USD/JPY re-attempts 109 handle?

The dollar-yen pair stages a minor-pullback in the European session, having found renewed bids just ahead of 108.50 levels, as the yen buying paused for a while amid stabilizing European equities as well as oil prices. At the moment, the USD/JPY pair recovers to 108.70, still down -0.57% on the day.

Looking ahead, the prevalent risk-off/on sentiment is likely to dominate the USD/JPY moves, in absence of significant US economic releases due later today.

USD/JPY Technical levels to watch

In terms of technicals, the immediate resistance is located at 109 (round number). A break above the last, the major could test 109.50 (post-BOJ highs). While to the downside, the immediate support is seen at 108.50 (psychological levels) and below that at 108.13/107.97 (5-DMA/ 1h 100-SMA).

OctaFX Supercharged real contest finishes today!

This is a big day for everyone who followed OctaFX Supercharged real contest that finishes today!

Stay tuned to know the winners' names and if you are one of them!
Tesla Model S, BMW i3 and Renault Twizy are ready to be sent to the winners!

Round 50 of OctaFX Champion demo contest: how to keep winning

OctaFX is happy to announce the new winners of Champion demo contest! Let’s congratulate the traders:

• 1st place with the award of 500 USD goes to Mr. Kariyanto Kariyanto from Indonesia
• 2nd place with the award of 300 USD goes to Mr. Noor Ul Amin from Pakistan
• 3rd place with the award of 100 USD goes to Ms. Ledi Manullang from Indonesia
• The last runner in the contest, Mr. Abd Hadi from Indonesia is granted 100 USD

Do you want to learn how to trade so that you keep winning? Just read these success tips from our best traders!

1st place - Mr. Kariyanto Kariyanto from Indonesia
I’ve been trading with OctaFX for a long time, and finally my time has come! I’m the first winner! I’d like to express my gratitude to OctaFX for this opportunity. Honestly speaking, I’m learning on the go: in the past, I was spending a lot of time on trading (not always successful enough), but now I just wait for the right moment to trade, so there’s not much time consumed. Since I’m more successful now I believe I will go on participating in OctaFX contests. Who knows, may be I’m in a winning streak at the moment. I think my success is patience, being precise in using the market moment and determination. Also, I like to take all the trading opportunities. The more I take advantage of the opportunities, the greater my chance for victory. Yes, I suffered huge losses in the past, because I was (and I still am) a newbie, but I hope I’m learning faster and faster. I’ve been trading for 5 years and I’ve got some thrilling experience that I hope will help me in the future trades.

2nd place - Mr. Noor Ul Amin from Pakistan
First of all, I want to thank OctaFX for organizing such a thrilling contest. It’s great that you can challenge yourself and trade in a competition with others! As for me, I’m not a full-time trader: I have a regular job, and trading is a hobby for me. I trade from time to time whenever I’m free. I’m considering participating in some other contests that OctaFX organizes, maybe I’ll go and pick more than one. OctaFX has quite a wide range to choose from. My key success factors are hard work and concentrated analysis of the market. I guess these were the reasons I got one of the prizes in this contest. I don’t use any kind of EAs or other indicators; the only strategy that I use is my own strategy. Most of my trades were profitable this time. However, one of the trades was a loss of more than 6000, but then I got a profit of 6290, so I basically got the lost money back. According to my experience, learning as well as practical work take around 6 months to become a good trader.

3rd place - Ms. Ledi Manullang from Indonesia
If you ask me what I feel, I can say I’m super happy! I trade when I have a couple of minutes of free time so I’m not too an involved trader. I’ve never thought I’d become a winner one day, but here I am! I will continue to participate in the next rounds even after this success. When I trade, i’m optimistic and confident - this is the best state that you can imagine for trading. I’m also patient to wait for the right moment, I’m not pushed by emotions. I got a spectacular profit for the first time in this contest, no losses occurred! Speaking of experience… My best guess is that the time that you have to spend to become an exceptional trader is unlimited. A good trader is willing to learn from experience without being too impatient.

The last runner in the contest - Mr. Abd Hadi from Indonesia
I’m a beginner Forex trader. Although I failed this time, I’m happy to get a consolation prize of $100. I learned a lot from the experience of this contest, ranging from the strategy to the calculation of the lot. My failure makes me even more motivated to try harder, to learn more about the market and to study technical analysis and fundamental basics. Of course, now I’m enterprising and determined to learn how to be a successful trader. Together with OctaFX, I believe that behind the failure there is the success. I hope next time I will no longer experience failure, and maybe it will take 2-3 months to become a better trader. Once again, thank you very much, OctaFX.

Ready to try OctaFX Champion demo contest yourself? Just register here and accept the challenge!

Supercharged traders awarded:
Syed Yazid from Malaysia won Tesla Model S!

OctaFX Supercharged real contest lasted for 1.5 years and now it’s time to unveil the winners! 3179 traders took part in this fierce competition that comprised 20 rounds plus the exciting finish line, and OctaFX team would like to thank all the traders who took part in this contest. We are happy to announce the winners and grant the following prizes that we have prepared:

1. Tesla Model S, an all-electric powerful hatchback goes to Syed Yazid from Malaysia
2. BMW i3, an urban electric model goes to Chin Heung from Hong Kong
3. Renault Twizy, a battery-powered electric city car goes to Budi Santoso from Indonesia
4. The latest Apple iMac goes to Daniel Abella from Spain
5. The latest Apple MacBook Pro goes to Satriya Agung Wibowo from Indonesia
6. The latest Apple Macbook Air goes to Erwin Agung Prasetyo from Indonesia
7. The latest Apple Mac Mini goes to Motie Hayajneh from Jordan
8. The latest Apple iPad goes to Jia Qi Guo from China
9. Apple iPhone 6s plus goes to Dira Septria Dwi Sari from Indonesia
10. Apple iPhone 6s goes to Yohanes Prayoga from Indonesia

During the contest, OctaFX also awarded 20 iPhones 6s’ to the monthly round winners.

For the details on the contest, visit the Supercharged real contest results page and watch the video to witness the winners announced. Stay tuned to read the success stories of the winning traders!

OctaFX hopes that you enjoyed participating in Supercharged real contest. Stay tuned to know about our new contests and promotions first!

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AUD/USD recovery stalls near 0.7230, back at 0.7200

The selling pressure behind the AUD appears to gather pace once again, driving AUD/USD back near daily lows as risk-off remains in full swings amid lower oil and stocks.

AUD/USD hovers near 11-week lows

Currently, the AUD/USD pair trades -0.40% lower at 0.7200, meeting fresh supply near 0.7230 region. The Aussie halted its recovery mode and fell further into losses as sentiment in Europe deteriorated sharply after oil prices extended losses and crushed investors’ confidence, weighing heavily on the higher-yielding assets such as equities, AUD etc.

Moreover, the European traders negatively react to the disappointing Aus jobs data, which has increased odds of further rate cut by the RBA in the upcoming months. The unemployment rate held steady at 5.7% in March, while 10,800 jobs were added to the economy last month, below expectations of a 12,000 net increase. The labor force participation rate unexpectedly fell from 64.9% in March to 64.8% last month, the lowest in almost a year.

Meanwhile, the Aussie will track broader market sentiment ahead of the US datasets and Fed speeches, which may provide fresh impetus to the major.

AUD/USD Levels to watch

The pair finds the immediate resistance at 0.7262 (200-DMA) above which gains could be extended to the next hurdle located at 0.7300 (round number). On the flip side, the immediate support located at 0.7162/50 (Mar 2 Low/ Daily S2). Selling pressure is likely to intensify below the last, dragging the Aussie 0.7105 (April 29 & Mar 1 Low).

Stay updated with OctaFX and the most recent Forex news!

GBP/USD drops to lows around 1.4550

The Sterling is not smiling anymore, at least not today, as GBP/USD has now dipped to session lows in the mid-1.4500s.

GBP/USD lower on poll results

The pair met increasing selling pressure following latest poll results on the UK Referendum, showing the ‘Leave’ vote now leading with 41% but closely followed by the ‘Stay’ vote with 38%, while 21% still remain undecided.

Following these results, uncertainty surrounding the validity of ‘Brexit’ polls remains on the rise and keep weighing on GBP, which already prompted spot to give away over a cent since yesterday’s tops beyond 1.4660.

GBP/USD levels to consider

As of writing the pair is retreating 0.34% at 1.4562 facing the immediate support at 1.4509 (20-day sma) followed by 1.4330 (low May 16) and finally 1.4088 (low Apr.14). On the other hand, a breakout of 1.4663 (high May 19) would aim for 1.4770 (high May 3) and then 1.4792 (200-day sma).

US Memorial Day Trading Schedule

OctaFX would like to inform you of the changes in the trading hours of XAU/USD and XAG/USD on US Memorial Day May 30. Trading closes Monday, May 30, 2016 at 20:00 (EET, Server time) and re-opens Tuesday, May 31, 2016 at 01:00 (EET, Server time).

Here is the timetable for your convenience:

Please, consider the fact that any open trades upon closure of trading hours will be rolled into the next day.

We would like to apologize for any inconvenience caused. Please, contact our Customers Support in case you have any questions. If any failures occur, please report immediately to [email protected]

Thank you for choosing OctaFX as your top-notch Forex Broker!

Round 42 of OctaFX cTrader Weekly demo contest: winners announced

OctaFX is ready to present you the new cTrader Weekly demo contest results. This time, the prize fund of $400 is shared between the Indonesian, Macedonian and Colombian traders. Let’s welcome the winners:

• 1st place with the award of $150 goes to Mr. Nurochman from Indonesia.
• 2nd place with the award of $100 goes to Mr. Surya Hasani from Indonesia.
• 3rd place with the award of $75 goes to Mr. Syai Fuddin from Indonesia.
• 4th place with the award of $50 goes to Mr. Dejan Kostovski from Macedonia.
• 5th place with the award of $25 goes to Mr. Nelson de Jesus Restrepo Escobar from Colombia.

OctaFX cTrader Weekly demo contest is a unique possibility to win one of the valuable prizes while sticking to the risk-free option of demo trading. This contest is an ideal option both for those who are are testing their skills or starting out on Forex market and for those who have already gained a few months or even years of trading experience. The great advantage of OctaFX cTrader Weekly demo contest is that no risk of loss is involved. No investments are needed to take your chance and win. Now it’s high time to register in the next round and fight for the prize!

OctaFX cTrader Weekly demo contest: trade and win without any risk!

$400 for the winners in Round 43 of OctaFX cTrader Weekly demo contest

Round 43 of cTrader Weekly demo contest is over, and it means that it’s time to announce the new winners! Five skillful trades shared the weekly prize fund of $400, and here is the victorious list:

• 1st place with the award of $150 goes to Mr. Asim Maqsood from Pakistan.
• 2nd place with the award of $100 goes to Mr. Abdurrazak Said from Indonesia.
• 3rd place with the award of $75 goes to Mr. Nur Endah Solekah from Indonesia.
• 4th place with the award of $50 goes to Mr. Abdul Hameed from Pakistan.
• 5th place with the award of $25 goes to Mr. Naglaa Mansour from Egypt.

If you’ve never traded on cTrader platform, it’s high time to test its unique features such as:

• Mobile trading (mobile browser or iOS/Android app);
• Direct Market Access brokerage capabilities;
• Algorithmic trading with cAlgo;
• Full-size tick chart;
• Creating and sharing screenshots automatically;
• Reversing/doubling position in one click;
• Closing all open positions in one click.

Ready to test your trading skills and take one of the prize places? Then open a demo account to participate in the next cTrader Weekly demo contest round!

OctaFX cTrader Weekly demo contest: high time to win!