Today from Japan only some insignificant news such as Current Account, Bank Lending y/y is released. It seems that the London Market and the US market will move not so significantly because EU and the US markets have holidays. There is a big chance for the USD/JPY price action to move in a sideways and ranging situation.
TODAY's TECHNICAL LEVELS:
Resistance 3: 99.53.
Resistance 2: 99.34.
Resistance 1: 99.14.
Support 1: 98.90.
Support 2: 98.71.
Support 3: 98.51.
DESCRIPTION:
Please pay attention to the levels of support 3 (98.51) and resistance 3 (99.53). 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
InstaForex
https://instaforex.com
Email: Arief.jakarta@indo.instaforex.com
blog.mt5.com/arief
https://www.mt5.com/forex_analysis_award/profile/index/arief
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