USD/JPY intraday technical levels for November 20, 2013
November 20, 2013 6:15 am
Today some medium impact data such as Trade Balance, All Industries Activity m/m will be released; and during the US market session, some important news such as Core CPI m/m, Core Retail Sales m/m, Retail Sales m/m, and Existing Home Sales are going to be announced. Also some medium impact data like US Business Inventories m/m and Crude Oil Inventories will be released, so tas a result, the price of this currency pair will move with moderate to high volatility during the US session.
TODAY’s TECHNICAL LEVELS:
Resistance. 3 : 100.52.
Resistance. 2 : 100.32.
Resistance. 1 : 100.13.
Support. 1 : 99.89.
Support. 2 : 99.69.
Support. 3 : 99.49.
DESCRIPTION:
Please, pay attention to the levels of support 3 (99.49) and resistance 3 (100.52). 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.
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 some medium impact data such as Trade Balance, All Industries Activity m/m will be released; and during the US market session, some important news such as Core CPI m/m, Core Retail Sales m/m, Retail Sales m/m, and Existing Home Sales are going to be announced. Also some medium impact data like US Business Inventories m/m and Crude Oil Inventories will be released, so tas a result, the price of this currency pair will move with moderate to high volatility during the US session.
TODAY’s TECHNICAL LEVELS:
Resistance. 3 : 100.52.
Resistance. 2 : 100.32.
Resistance. 1 : 100.13.
Support. 1 : 99.89.
Support. 2 : 99.69.
Support. 3 : 99.49.
DESCRIPTION:
Please, pay attention to the levels of support 3 (99.49) and resistance 3 (100.52). 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 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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