Today, there is no important economic news from Japan besides the trade balance, and the trend bias for the USD/JPY is still in a ranging situation. We do not suggest during the US-Non Farm Payrolls and US Unemployment Rates Economic News Release to open trades, because there is a possibility for this pair to move in a ranging situation; maybe in the US session the price action can get a little bit volatility and it will be back in a ranging mode again. We suggest today just to clear the previous day/previous week open positions, if you still want to open a trade, you should make sure your position will be done today.

TODAY's  TECHNICAL  LEVELS:

Resistance. 3 : 98.46.

Resistance. 2 : 98.27.

Resistance. 1 : 98.08.

Support. 1    : 97.84.

Support. 2    : 97.65.

Support. 3    : 97.45. 

DESCRIPTION:

Please, pay attention to the levels of support 3 (97.45) and resistance 3 (98.46). 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 InstaForex Group

InstaForex Group

http://instaforex.com

Email : [email protected]

blog.mt5.com/arief

http://www.mt5.com/forex_analysis_award/profile/index/arief

Disclaimer:

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.