USD/JPY intraday technical levels for December 17, 2013
December 17, 2013 7:15 am
Every market participant now worries about the next US FOMC meeting. Particularly, the matter of concern is whether the tapering off begins December 2013. However, most forecasts of tapering have been pushed to March 2014. Now the market moves slightly slow, especially today since there are no data releases scheduled for today from Japan. Only during the US session, there will be some reports such as the US CPI m/m; US Current Account; US NAHB Housing Market Index. Thus, we expect the USD/JPY to move in a low volatility today.
Today’s technical levels:
Resistance 3 : 103.57.
Resistance 2 : 103.37.
Resistance 1 : 103.17.
Support 1 : 102.92.
Support 2 : 102.72.
Support 3 : 102.51.
Description:
Please pay attention to the levels of support 3 (102.51) and resistance 3 (103.57). Normally, when a level is touched, the USD/JPY will rebound from the previous minimum by 10 to 20 pips. However, in case the levels are broken through by over 50 pips, 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
Every market participant now worries about the next US FOMC meeting. Particularly, the matter of concern is whether the tapering off begins December 2013. However, most forecasts of tapering have been pushed to March 2014. Now the market moves slightly slow, especially today since there are no data releases scheduled for today from Japan. Only during the US session, there will be some reports such as the US CPI m/m; US Current Account; US NAHB Housing Market Index. Thus, we expect the USD/JPY to move in a low volatility today.
Today’s technical levels:
Resistance 3 : 103.57.
Resistance 2 : 103.37.
Resistance 1 : 103.17.
Support 1 : 102.92.
Support 2 : 102.72.
Support 3 : 102.51.
Description:
Please pay attention to the levels of support 3 (102.51) and resistance 3 (103.57). Normally, when a level is touched, the USD/JPY will rebound from the previous minimum by 10 to 20 pips. However, in case the levels are broken through by over 50 pips, 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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