From Japan data on Core Machinery Orders m/m and CGPI y/y will be released; and from the US market there will be no news today; so for today's trade we will get a Low to Moderate Volatility price action movement for the USD/JPY pair.
TODAY's TECHNICAL LEVELS:
Resistance 3: 100.02.
Resistance 2: 99.82.
Resistance 1: 99.63.
Support 1: 99.38.
Support 2: 99.19.
Support 3: 98.99.
DESCRIPTION:
Please pay attention to the levels of support 3 (98.99) and resistance 3 (100.02). 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
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.
