In Asia, Japan will release its Current Account, Final GDP q/q, Bank Lending y/y, Final GDP Price Index y/y, Consumer Confidence, and Economy Watchers Sentiment. Meanwhile, the US will not release any economic data today. So there is a big probability the USD/JPY will move with low volatility today. TODAY's TECHNICAL LEVELS:
Resistance. 3: 103.06.
Resistance. 2: 102.86.
Resistance. 1: 102.66.
Support. 1: 102.41.
Support. 2: 102.21.
Support. 3: 102.01.
Please, pay attention to the levels of support 3 (102.01) and resistance 3 (103.06). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.
Best regards, Arief Makmur
Official Analyst of InstaForexGroup
InstaForex Group http://instaforex.com
For more analysis go to: blog.mt5.com/arief
My profile: http://www.mt5.com/forex_analysis_award/profile/index/arief
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Arief Makmur,
InstaForex Group © 2007-2020
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.