USD/JPY intraday technical levels for December 06, 2013
December 6, 2013 7:15 am
Today is a special day because every first Friday of each month the US will release its non-farm payrolls and unemployment rate data and as we know both releases have a great impact on the market and can cause unpredictable volatility in the market; so we predict during the Asian session the market will moving in a low volatility and tend to be choppy situation because only one piece of news will be released from Japan : leading Indicators ; but when the US NFP’s and Unemployment rate will be unveiled after the US market opens, the price action from the USD/JPY will move in high volatility situation.
Today’s technical levels:
Resistance. 3 : 102.35.
Resistance. 2 : 102.15.
Resistance. 1 : 101.95.
Support. 1 : 101.70.
Support. 2 : 101.50.
Support. 3 : 101.30.
Description:
Please, pay attention to the levels of support 3 (101.30) and resistance 3 (102.35). Normally, when a level is touched, the 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.
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 material has been provided by InstaForex Company – www.instaforex.com
Today is a special day because every first Friday of each month the US will release its non-farm payrolls and unemployment rate data and as we know both releases have a great impact on the market and can cause unpredictable volatility in the market; so we predict during the Asian session the market will moving in a low volatility and tend to be choppy situation because only one piece of news will be released from Japan : leading Indicators ; but when the US NFP’s and Unemployment rate will be unveiled after the US market opens, the price action from the USD/JPY will move in high volatility situation.
Today’s technical levels:
Resistance. 3 : 102.35.
Resistance. 2 : 102.15.
Resistance. 1 : 101.95.
Support. 1 : 101.70.
Support. 2 : 101.50.
Support. 3 : 101.30.
Description:
Please, pay attention to the levels of support 3 (101.30) and resistance 3 (102.35). Normally, when a level is touched, the 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
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.
The material has been provided by InstaForex Company – www.instaforex.com
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