Technical analysis of USD/JPY for Dec 08, 2017

USDJPY.jpg

In Asia, Japan will release the Economy Watchers Sentiment, Average Cash Earnings y/y, Final GDP Price Index y/y, Current Account, Bank Lending y/y, and Final GDP q/q data, and the US will release some Economic Data, such as Prelim UoM Inflation Expectations, Final Wholesale Inventories m/m, Prelim UoM Consumer Sentiment, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m. So, there is a probability the USD/JPY will move with a medium to high volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 113.92.

Resistance. 2: 113.70.

Resistance. 1: 113.48.

Support. 1: 113.20.

Support. 2: 112.98.

Support. 3: 112.76.

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