In Asia, Japan will release a variety of reports such the Housing Starts y/y, Prelim Industrial Production m/m, Unemployment Rate, National Core CPI y/y, Tokyo Core CPI y/y, and Household Spending y/y. The US will also release several economic data such as Revised UoM Inflation Expectations, Revised UoM Consumer Sentiment, Chicago PMI, Employment Cost Index q/q, Advance GDP Price Index q/q, and Advance GDP q/q. So, there is a big probability the USD/JPY pair will move with low to medium volatility during the day.
TODAY TECHNICAL LEVELS:
Resistance. 3: 118.72.
Resistance. 2: 118.49.
Resistance. 1: 118.25.
Support. 1: 117.97.
Support. 2: 117.753.
Support. 3: 117.50.
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.
