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GBP/JPY Technical Levels and Trading Recommendations for July 11, 2012


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In Asia, Japan will not release economic data today, but the US is expected to publish data on Crude Oil Inventories, ISM Non-Manufacturing PMI, Final Services PMI, Trade Balance, and ADP Non-Farm Employment Change. So, there is a strong probability than USD/JPY will move with low volatility during the Asian session, but with low to medium volatility during the US session.


Resistance. 3: 125.00.

Resistance. 2: 124.75.

Resistance. 1: 124.51.

Support. 1: 124.21.

Support. 2: 123.96.

Support. 3: 123.72.

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.

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