USD/JPY intraday technical levels for December 18, 2013
December 18, 2013 6:45 am
Today Japan will only release Trade Balance data. It is well-known that Japan has the highest deficit and BOJ will hold its rate. Moreover, the US tapering is a big issue in the market. Today our forecast for USD/JPY is that the pair will move with low volatility during the Asian and the European trading sessions, but it will be moving with high volatility during the US trading session, because some important data is on tap. It is Building Permits, Housing Starts, Flash Services PMI, Crude Oil Inventories, Federal Funds Rate, FOMC Statement.
TODAY’s TECHNICAL LEVELS:
Resistance. 3: 103.47.
Resistance. 2: 103.27.
Resistance. 1: 103.07.
Support. 1: 102.82.
Support. 2: 102.62.
Support. 3: 102.41.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.41) and resistance 3 (103.47). Normally, when a level is touched, USD/JPY will rebound from the previous low by 10 to 20 pips, but if the level is broken through by over 50 pips, then it will be a sign that this currency pair has found a trend 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 Japan will only release Trade Balance data. It is well-known that Japan has the highest deficit and BOJ will hold its rate. Moreover, the US tapering is a big issue in the market. Today our forecast for USD/JPY is that the pair will move with low volatility during the Asian and the European trading sessions, but it will be moving with high volatility during the US trading session, because some important data is on tap. It is Building Permits, Housing Starts, Flash Services PMI, Crude Oil Inventories, Federal Funds Rate, FOMC Statement.
TODAY’s TECHNICAL LEVELS:
Resistance. 3: 103.47.
Resistance. 2: 103.27.
Resistance. 1: 103.07.
Support. 1: 102.82.
Support. 2: 102.62.
Support. 3: 102.41.
DESCRIPTION:
Please, pay attention to the levels of support 3 (102.41) and resistance 3 (103.47). Normally, when a level is touched, USD/JPY will rebound from the previous low by 10 to 20 pips, but if the level is broken through by over 50 pips, then it will be a sign that this currency pair has found a trend 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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